volume 9, issue 4, P903-958 2003
DOI: 10.1017/s1357321700004402
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R. J. Thomson

Abstract: In this paper a system for recommending investment channel choices to members of defined contribution retirement funds is proposed. The system is interactive, using a member's answers to a series of questions to derive a utility function. The observed values are interpolated by means of appropriate formulae to produce a smooth utility function over the whole positive range of benefits at retirement. The resulting function, together with stochastic models of the returns on the available channels and of the ann…

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