Abstract
This paper proposes a behavioral portfolio decision model with interval returns and investor’s sentiment. A sentiment-adjusted mean model for behavioral portfolio selection is presented by taking into account investor’s sentiment return and multiple mental accounts. The proposed behavioral model maximizes the sentimental mean value of portfolio interval return and ensures the portfolio interval return of each mental account exceeding the given minimum return level with a given possibility degree. Then, multiple programming models are designed to solve the optimal behavioral portfolio strategy. Finally, a numerical example is given to illustrate the validity of the proposed approach.
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