Adapting Portfolio Theory for Asset Indivisibility: A Conceptual Framework

Lindon J. Robinson and Peter J. Barry

No 283930, 1976 Annual Meeting, August 15-18, State College, Pennsylvania from American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association)

Abstract: Portfolio theory is-used to explore the kinds of risk-return effects induced by investments in indivisible assets. It is shown that risk-return economies require higher levels of return and risk as the size of the fixed investment increases and portfolio choices can be limited using Baumol's EL criterion.

Keywords: Risk; and; Uncertainty (search for similar items in EconPapers)
Pages: 18
Date: 1976-08
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Persistent link: https://EconPapers.repec.org/RePEc:ags:aaea76:283930

DOI: 10.22004/ag.econ.283930

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