A Pareto-Optimal Dividend Policy

1 May 1967

journal article
Published by Institute for Operations Research and the Management Sciences (INFORMS) in Management Science

Vol. 13 (9) , 756-764
https://doi.org/10.1287/mnsc.13.9.756

Abstract

A Pareto-optimal sequential dividend policy for a syndicate is obtained in a tractable special case. The relationship between the many-person and single-person problems is investigated, and it is shown that the group acts as though it were an individual with risk preferences and probability assessments compounded from the members according to explicit formulae.

Keywords

DIVIDEND POLICY
PARETO OPTIMAL
SINGLE PERSON
SPECIAL CASE
RISK PREFERENCES
EXPLICIT FORMULAE
GROUP ACTS

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