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[{"key": "dc.contributor.advisor", "value": "Laukkarinen, Eija", "language": "", "element": "contributor", "qualifier": "advisor", "schema": "dc"}, {"key": "dc.contributor.author", "value": "Savonen, Anneliina", "language": "", "element": "contributor", "qualifier": "author", "schema": "dc"}, {"key": "dc.date.accessioned", "value": "2022-12-22T08:06:41Z", "language": null, "element": "date", "qualifier": "accessioned", "schema": "dc"}, {"key": "dc.date.available", "value": "2022-12-22T08:06:41Z", "language": null, "element": "date", "qualifier": "available", "schema": "dc"}, {"key": "dc.date.issued", "value": "2022", "language": "", "element": "date", "qualifier": "issued", "schema": "dc"}, {"key": "dc.identifier.uri", "value": "https://jyx.jyu.fi/handle/123456789/84552", "language": null, "element": "identifier", "qualifier": "uri", "schema": "dc"}, {"key": "dc.description.abstract", "value": "T\u00e4m\u00e4n tutkielman tarkoituksena on perehdytt\u00e4\u00e4 lukija sijoittajan valintaongelmien taustalla vaikuttavaan matematiikkaan sek\u00e4 auttaa hahmottamaan, kuinka sijoittajan suhtautuminen riskiin n\u00e4kyy salkun valinnassa. Tutkielman ymm\u00e4rt\u00e4minen edellytt\u00e4\u00e4 lukijalta todenn\u00e4k\u00f6isyyslaskennan ja stokastisten prosessien sek\u00e4 tilastotieteen perusteiden tuntemista. Oletamme sijoittajan pyrkiv\u00e4n sijoitusp\u00e4\u00e4t\u00f6ksill\u00e4\u00e4n maksimoimaan odotetun hy\u00f6tyns\u00e4. Sijoittajan kokema hy\u00f6ty puolestaan liittyy oleellisesti h\u00e4nen riskinsietokykyyns\u00e4, jonka perusteella h\u00e4net voidaan luokitella riskihakuiseksi, riskineutraaliksi tai riski\u00e4 kahitavaksi. Riskihakuinen sijoittaja edellytt\u00e4\u00e4 matalariskisilt\u00e4 sijoitusvaihtoehdoilta suurempaa odotettua tuottoa kuin korkeariskisilt\u00e4. Riskineutraali sijoittaja voi valita mink\u00e4 tahansa sijoitusvaihtoehdon, mik\u00e4li niiden odotetut tuotut ovat yht\u00e4suuria. Riski ei vaikuta tuolloin p\u00e4\u00e4t\u00f6ksentekoon. Riski\u00e4 kaihtava sijoittaja valitsisi samassa tilanteessa riskitt\u00f6mimm\u00e4n vaihtoehdon. Sijoittajien preferenssit voidaan ilmaista hy\u00f6tyfunktion avulla. Suhtautuminen riskiin vaikuttaa sijoittajan hy\u00f6tyfunktion muotoon. Riskihakuisen sijoittajan hy\u00f6tyfunktio on konveksi, riskineutraalin lineaarinen ja riskinkaihtajan konkaavi.\nJotta riski\u00e4 kaihtava sijoittaja p\u00e4\u00e4tyisi riskitt\u00f6mimm\u00e4n sijoitusvaihtoehdon sijasta korkeamman riskin omaavaan vaihtoehtoon, tulisi t\u00e4st\u00e4 vaihtoehdosta tarjota kompensaationa parempi tuotto. T\u00e4h\u00e4n riskinkaihtajan edellytt\u00e4m\u00e4n kompensaation suuruuteen vaikuttaa sijoittajan riskinkaihtamisen aste, jota mitataan riskinkaihtamisen kertoimella. T\u00e4ss\u00e4 tutkielmassa tarkastellaan Arrowin ja Prattin absoluuttisen riskin kaihtamisen kerrointa ja suhteellisen riskin kaihtamisen kerrointa, jotka generoivat nelj\u00e4 hy\u00f6tyfunktioiden p\u00e4\u00e4luokkaa. \n\nRiskinsietokyvyn lis\u00e4ksi sijoittajan tekemiin sijoitusp\u00e4\u00e4t\u00f6ksiin ja sit\u00e4 kautta salkun valintaan vaikuttaa sijoittajan budjettirajoite. Kun sijoittajan tulot vastaavat salkun hintaa, h\u00e4n pyrkii valitsemaan salkkunsa siten, ett\u00e4 h\u00e4nen odotettu hy\u00f6tyns\u00e4 maksimoituu.", "language": "fi", "element": "description", "qualifier": "abstract", "schema": "dc"}, {"key": "dc.description.provenance", "value": "Submitted by Miia Hakanen (mihakane@jyu.fi) on 2022-12-22T08:06:41Z\nNo. of bitstreams: 0", "language": "en", "element": "description", "qualifier": "provenance", "schema": "dc"}, {"key": "dc.description.provenance", "value": "Made available in DSpace on 2022-12-22T08:06:41Z (GMT). No. of bitstreams: 0\n Previous issue date: 2022", "language": "en", "element": "description", "qualifier": "provenance", "schema": "dc"}, {"key": "dc.format.extent", "value": "63", "language": "", "element": "format", "qualifier": "extent", "schema": "dc"}, {"key": "dc.format.mimetype", "value": "application/pdf", "language": null, "element": "format", "qualifier": "mimetype", "schema": "dc"}, {"key": "dc.language.iso", "value": "fin", "language": null, "element": "language", "qualifier": "iso", "schema": "dc"}, {"key": "dc.rights", "value": "In Copyright", "language": "en", "element": "rights", "qualifier": null, "schema": "dc"}, {"key": "dc.subject.other", "value": "hy\u00f6tyfunktio", "language": "", "element": "subject", "qualifier": "other", "schema": "dc"}, {"key": "dc.title", "value": "Hy\u00f6tyfunktiot ja riskin kaihdanta", "language": "", "element": "title", "qualifier": null, "schema": "dc"}, {"key": "dc.type", "value": "master thesis", "language": null, "element": "type", "qualifier": null, "schema": "dc"}, {"key": "dc.identifier.urn", "value": "URN:NBN:fi:jyu-202212225797", "language": "", "element": "identifier", "qualifier": "urn", "schema": "dc"}, {"key": "dc.type.ontasot", "value": "Pro gradu -tutkielma", "language": "fi", "element": "type", "qualifier": "ontasot", "schema": "dc"}, {"key": "dc.type.ontasot", "value": "Master\u2019s thesis", "language": "en", "element": "type", "qualifier": "ontasot", "schema": "dc"}, {"key": "dc.contributor.faculty", "value": "Matemaattis-luonnontieteellinen tiedekunta", "language": "fi", "element": "contributor", "qualifier": "faculty", "schema": "dc"}, {"key": "dc.contributor.faculty", "value": "Faculty of Sciences", "language": "en", "element": "contributor", "qualifier": "faculty", "schema": "dc"}, {"key": "dc.contributor.department", "value": "Matematiikan ja tilastotieteen laitos", "language": "fi", "element": "contributor", "qualifier": "department", "schema": "dc"}, {"key": "dc.contributor.department", "value": "Department of Mathematics and Statistics", "language": "en", "element": "contributor", "qualifier": "department", "schema": "dc"}, {"key": "dc.contributor.organization", "value": "Jyv\u00e4skyl\u00e4n yliopisto", "language": "fi", "element": "contributor", "qualifier": "organization", "schema": "dc"}, {"key": "dc.contributor.organization", "value": "University of Jyv\u00e4skyl\u00e4", "language": "en", "element": "contributor", "qualifier": "organization", "schema": "dc"}, {"key": "dc.subject.discipline", "value": "Matematiikan opettajankoulutus", "language": "fi", "element": "subject", "qualifier": "discipline", "schema": "dc"}, {"key": "dc.subject.discipline", "value": "Teacher education programme in Mathematics", "language": "en", "element": "subject", "qualifier": "discipline", "schema": "dc"}, {"key": "yvv.contractresearch.funding", "value": "0", "language": "", "element": "contractresearch", "qualifier": "funding", "schema": "yvv"}, {"key": "dc.type.coar", "value": "http://purl.org/coar/resource_type/c_bdcc", "language": null, "element": "type", "qualifier": "coar", "schema": "dc"}, {"key": "dc.rights.accesslevel", "value": "openAccess", "language": null, "element": "rights", "qualifier": "accesslevel", "schema": "dc"}, {"key": "dc.type.publication", "value": "masterThesis", "language": null, "element": "type", "qualifier": "publication", "schema": "dc"}, {"key": "dc.subject.oppiainekoodi", "value": "4041", "language": "", "element": "subject", "qualifier": "oppiainekoodi", "schema": "dc"}, {"key": "dc.subject.yso", "value": "sijoittajat", "language": null, "element": "subject", "qualifier": "yso", "schema": "dc"}, {"key": "dc.subject.yso", "value": "sijoitukset (talous)", "language": null, "element": "subject", "qualifier": "yso", "schema": "dc"}, {"key": "dc.subject.yso", "value": "matematiikka", "language": null, "element": "subject", "qualifier": "yso", "schema": "dc"}, {"key": "dc.subject.yso", "value": "riskit", "language": null, "element": "subject", "qualifier": "yso", "schema": "dc"}, {"key": "dc.subject.yso", "value": "sijoitustoiminta", "language": null, "element": "subject", "qualifier": "yso", "schema": "dc"}, {"key": "dc.format.content", "value": "fulltext", "language": null, "element": "format", "qualifier": "content", "schema": "dc"}, {"key": "dc.rights.url", "value": "https://rightsstatements.org/page/InC/1.0/", "language": null, "element": "rights", "qualifier": "url", "schema": "dc"}, {"key": "dc.type.okm", "value": "G2", "language": null, "element": "type", "qualifier": "okm", "schema": "dc"}]
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