A Pareto-Optimal Dividend Policy

Robert Wilson ()

Management Science, 1967, vol. 13, issue 9, 756-764

Abstract: A Pareto-optimal sequential dividend policy for a syndicate is obtained in a tractable special case. The relationship between the many-person and single-person problems is investigated, and it is shown that the group acts as though it were an individual with risk preferences and probability assessments compounded from the members according to explicit formulae.

Date: 1967
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