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This paper provides a new portfolio selection rule. The objective is to minimize the maximum individual risk and we use an l \infty function as the risk measure. We provide an explicit analytical solution for the model and are thus able to plot the entire efficient frontier. Our selection rule is very conservative. One of the features of the solution is that it does not explicitly involve the covariance of the asset returns.portfolio selection, risk averse measures, bicriteria piecewise linear program, efficient frontier, kuhn-tucker conditions
Samples of Sm1−x CaxFeO3−y are prepared in air for x ranging from 0 to 0.70. X‐ray powder diffraction analysis shows that the samples are the single‐phased perovskite‐type compounds with the space group Di162h‐Pbnm. The accurate lattice constants of Sm1−x CaxFeO3−y are calculated from the observed diffraction peaks by the least‐squares refinement. Sm1−x CaxFeO3−y yields two hyperfine splitting patterns which would be assigned to iron(III) on octahedral sites and iron(III) on tetrahedral ones. The percentage of the iron on the tetrahedral sites increases almost linearly with increasing x, indicating that the oxygen vacancies in the lattice increase with the increasing substitution of Ca for Sm. The compounds prepared contain only trivalent iron, suggesting that they would have the chemical formula Sm1−x CaxFeO3−x/2.
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