<> "The repository administrator has not yet configured an RDF license."^^ . <> . . . "A numerical study on the evolution of portfolio rules"^^ . "In this paper we test computationally the performance of CAPM in an evolutionary setting. In particular we study the stability of distribution of wealth in a financial market where some traders invest as prescribed by CAPM and others behave according to different portfolio rules. Our study is motivated by recent analytical results that show that, whenever a logarithmic utility maximiser enters the market, CAPM traders vanish in the long run. Our analysis provides further insights and extends these results. We simulate a sequence of trades in a financial market and: first, we address the issue of how long is the long run in different parametric settings; second, we study the effect of heterogeneous savings behaviour on asymptotic wealth shares. We find that CAPM is particularly “unfit” for highly risky environments."^^ . "2002" . . "Springer"^^ . . "Springer"^^ . . . . . . . . . . . . . . "Emanuela"^^ . "Sciubba"^^ . "Emanuela Sciubba"^^ . . "Marina"^^ . "Piccioni"^^ . "Marina Piccioni"^^ . . "Guido"^^ . "Caldarelli"^^ . "Guido Caldarelli"^^ . . . . "6th International Conference on \"Computing in Economics and Finance\""^^ . . . . . "Universitat Pompeu Fabra, Barcelona, Spain"^^ . . . . . "HTML Summary of #1193 \n\nA numerical study on the evolution of portfolio rules\n\n" . "text/html" . . . "HG Finance"@en . . . "QA Mathematics"@en . .