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This is a strange question. Usually questions about expected utility involve some uncertainty about the future wealth of the investor. If there is no uncertainty in the outcome and the investor is not doing anything which might change his or her future wealth then the expectation of utility is a constant, that is $E[U(w)] = U(w)$.


To answer your first question: Under the necessary assumptions, the Markowitz portfolio optimization framework can be used to obtain the minimum variance portfolio for a given level of return. Together all the portfolio with a minimum variance for a specified level of return are (or span) the efficient frontier. By definition it is not possible to get ...


Try to give David Spiegelhalter a read/listen to David Spiegelhalter's work and research. He is a statistician and a Professor of the Public Understanding of Risk at Cambridge England. Rather than new ways of calculating risk, he looks at ways of communicating risk to a general public that doesn't have any knowledge of stats. I Linked an interesting ...

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