Article | Journal of Financial Economics | May 1974

Fallacy of the Log-Normal Approximation to Optimal Portfolio Decision Making over Many Periods

by Robert C. Merton and Paul A. Samuelson

Keywords: Investment; Decision Making;

Citation:

Merton, Robert C., and Paul A. Samuelson. "Fallacy of the Log-Normal Approximation to Optimal Portfolio Decision Making over Many Periods." Journal of Financial Economics 1 (May 1974): 67–94.