Portfolio selection strategies with investor psychology and behavior under fuzzy random environment

摘要

Future return rate is affected by both of the subjective factors and objective factors. So fuzzy and random uncertainty are considered in portfolio selection problems simultaneously. By using fuzzy random variable to measure future return rate, a novel fuzzy random portfolio selection model with investor psychology and behavior is proposed. The model provide different investment strategies for different investors with different rational-emotional, optimistic-pessimistic and riskpreference attitudes. Finally, a numerical example is put forward to illustrate the efficiency of the model.