{"id":"https://openalex.org/W2553367449","doi":null,"title":"An Axiomatization of Naive Diversification","display_name":"An Axiomatization of Naive Diversification","publication_year":2016,"publication_date":"2016-11-04","ids":{"openalex":"https://openalex.org/W2553367449","mag":"2553367449"},"language":"en","primary_location":{"id":"mag:2553367449","doi":null,"is_oa":true,"landing_page_url":"https://arxiv.org/pdf/1611.01285v1","pdf_url":null,"source":{"id":"https://openalex.org/S4306400194","display_name":"arXiv (Cornell University)","issn_l":"2331-8422","issn":["2331-8422"],"is_oa":true,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I205783295","host_organization_name":"Cornell University","host_organization_lineage":["https://openalex.org/I205783295"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"arXiv (Cornell University)","raw_type":null},"volume":null,"type":"preprint","is_traditional":true,"indexed_in":[],"open_access":{"is_oa":true,"oa_status":"green","oa_url":"https://arxiv.org/pdf/1611.01285v1","any_repository_has_fulltext":true},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5021848590","display_name":"Enrico G. De Giorgi","orcid":"https://orcid.org/0000-0001-8017-9618","observed_orcids":["https://orcid.org/0000-0001-8017-9618"]},"institutions":[],"countries":[],"is_corresponding":false,"raw_author_name":"Enrico G. De Giorgi","raw_affiliation_strings":[],"raw_orcid":"https://orcid.org/0000-0001-8017-9618","affiliations":[]},{"author_position":"last","author":{"id":"https://openalex.org/A5015857119","display_name":"Ola Mahmoud","orcid":"https://orcid.org/0000-0001-5224-2712","observed_orcids":["https://orcid.org/0000-0001-5224-2712"]},"institutions":[],"countries":[],"is_corresponding":false,"raw_author_name":"Ola Mahmoud","raw_affiliation_strings":[],"raw_orcid":"https://orcid.org/0000-0001-5224-2712","affiliations":[]}],"institutions":[],"countries_distinct_count":0,"institutions_distinct_count":0,"corresponding_author_ids":[],"corresponding_institution_ids":[],"apc_list":null,"apc_paid":null,"fwci":null,"has_fulltext":false,"cited_by_count":0,"citation_normalized_percentile":null,"cited_by_percentile_year":null,"biblio":{"volume":null,"issue":null,"first_page":null,"last_page":null},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10315","display_name":"Decision-Making and Behavioral Economics","score":0.9404000043869019,"subfield":{"id":"https://openalex.org/subfields/1800","display_name":"General Decision Sciences"},"field":{"id":"https://openalex.org/fields/18","display_name":"Decision Sciences"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T10315","display_name":"Decision-Making and Behavioral Economics","score":0.9404000043869019,"subfield":{"id":"https://openalex.org/subfields/1800","display_name":"General Decision Sciences"},"field":{"id":"https://openalex.org/fields/18","display_name":"Decision Sciences"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T11413","display_name":"Risk and Portfolio Optimization","score":0.039400000125169754,"subfield":{"id":"https://openalex.org/subfields/1803","display_name":"Management Science and Operations Research"},"field":{"id":"https://openalex.org/fields/18","display_name":"Decision Sciences"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10991","display_name":"Game Theory and Voting Systems","score":0.005900000222027302,"subfield":{"id":"https://openalex.org/subfields/2002","display_name":"Economics and Econometrics"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/naive-diversification","display_name":"naive diversification","score":0.9990000128746033},{"id":"https://openalex.org/keywords/heuristic-decision-making","display_name":"heuristic decision making","score":0.6850000023841858},{"id":"https://openalex.org/keywords/axiomatization","display_name":"axiomatization","score":0.699999988079071},{"id":"https://openalex.org/keywords/permutation-invariance","display_name":"permutation invariance","score":0.9390000104904175},{"id":"https://openalex.org/keywords/convex-preferences","display_name":"convex preferences","score":0.8759999871253967},{"id":"https://openalex.org/keywords/inequality-aversion","display_name":"inequality aversion","score":0.9110000133514404},{"id":"https://openalex.org/keywords/risk-aversion","display_name":"risk aversion","score":0.9750000238418579},{"id":"https://openalex.org/keywords/decision-weights","display_name":"decision weights","score":0.6039999723434448},{"id":"https://openalex.org/keywords/rebalancing","display_name":"rebalancing","score":0.703000009059906},{"id":"https://openalex.org/keywords/portfolio-optimization","display_name":"portfolio optimization","score":0.5929999947547913}],"concepts":[{"id":"https://openalex.org/C180916674","wikidata":"https://www.wikidata.org/wiki/Q3711935","display_name":"Diversification (marketing strategy)","level":2,"score":0.8205814957618713},{"id":"https://openalex.org/C144237770","wikidata":"https://www.wikidata.org/wiki/Q747534","display_name":"Mathematical economics","level":1,"score":0.5622581839561462},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.45104551315307617},{"id":"https://openalex.org/C45555294","wikidata":"https://www.wikidata.org/wiki/Q28113351","display_name":"Inequality","level":2,"score":0.44421887397766113},{"id":"https://openalex.org/C112680207","wikidata":"https://www.wikidata.org/wiki/Q714886","display_name":"Regular polygon","level":2,"score":0.42380523681640625},{"id":"https://openalex.org/C33923547","wikidata":"https://www.wikidata.org/wiki/Q395","display_name":"Mathematics","level":0,"score":0.3786843419075012},{"id":"https://openalex.org/C144133560","wikidata":"https://www.wikidata.org/wiki/Q4830453","display_name":"Business","level":0,"score":0.11678910255432129},{"id":"https://openalex.org/C162853370","wikidata":"https://www.wikidata.org/wiki/Q39809","display_name":"Marketing","level":1,"score":0.0},{"id":"https://openalex.org/C134306372","wikidata":"https://www.wikidata.org/wiki/Q7754","display_name":"Mathematical analysis","level":1,"score":0.0},{"id":"https://openalex.org/C2524010","wikidata":"https://www.wikidata.org/wiki/Q8087","display_name":"Geometry","level":1,"score":0.0}],"mesh":[],"locations_count":1,"locations":[{"id":"mag:2553367449","doi":null,"is_oa":true,"landing_page_url":"https://arxiv.org/pdf/1611.01285v1","pdf_url":null,"source":{"id":"https://openalex.org/S4306400194","display_name":"arXiv (Cornell University)","issn_l":"2331-8422","issn":["2331-8422"],"is_oa":true,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I205783295","host_organization_name":"Cornell University","host_organization_lineage":["https://openalex.org/I205783295"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"arXiv (Cornell University)","raw_type":null}],"best_oa_location":{"id":"mag:2553367449","doi":null,"is_oa":true,"landing_page_url":"https://arxiv.org/pdf/1611.01285v1","pdf_url":null,"source":{"id":"https://openalex.org/S4306400194","display_name":"arXiv (Cornell University)","issn_l":"2331-8422","issn":["2331-8422"],"is_oa":true,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I205783295","host_organization_name":"Cornell University","host_organization_lineage":["https://openalex.org/I205783295"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"arXiv (Cornell University)","raw_type":null},"sustainable_development_goals":[],"study_designs":[],"awards":[],"funders":[],"has_content":{"pdf":false,"grobid_xml":false},"content_urls":null,"referenced_works_count":0,"referenced_works":[],"related_works":["https://openalex.org/W3121592867","https://openalex.org/W2953239721","https://openalex.org/W7008271197","https://openalex.org/W1520562983","https://openalex.org/W2064875117","https://openalex.org/W4415135430","https://openalex.org/W2052973993","https://openalex.org/W7119483788","https://openalex.org/W1975687818","https://openalex.org/W2510991118"],"abstract_inverted_index":{"A":[0],"widely":[1],"applied":[2],"diversification":[3,8,49,67,86],"paradigm":[4],"is":[5,92],"the":[6,41,65,75,82,112,126],"naive":[7,42,48,85,94],"choice":[9,23,37],"heuristic.":[10],"It":[11],"stipulates":[12],"that":[13,73,88],"an":[14,89],"economic":[15,90],"agent":[16,91],"allocates":[17],"equal":[18],"decision":[19,131],"weights":[20,132],"to":[21,44,64,133],"given":[22],"alternatives":[24],"independent":[25],"of":[26,77,84,114,120,139],"their":[27,140],"individual":[28],"characteristics.":[29],"This":[30],"article":[31],"provides":[32],"mathematically":[33],"and":[34,60,87,97,104,124],"economically":[35],"sound":[36],"theoretic":[38],"foundations":[39],"for":[40,56],"approach":[43],"diversification.":[45],"We":[46],"axiomatize":[47],"by":[50],"defining":[51],"it":[52],"as":[53],"a":[54,93],"preference":[55],"equality":[57],"over":[58],"inequality":[59,116],"derive":[61],"its":[62],"relationship":[63],"classical":[66],"paradigm.":[68],"In":[69],"particular,":[70],"we":[71],"show":[72],"(i)":[74],"notion":[76],"permutation":[78,105],"invariance":[79],"lies":[80],"at":[81],"core":[83],"diversifier":[95],"if":[96,99],"only":[98],"his":[100],"preferences":[101],"are":[102,135],"convex":[103],"invariant;":[106],"(ii)":[107],"Schur-concave":[108],"utility":[109],"functions":[110],"capture":[111],"idea":[113],"being":[115,121],"averse":[117],"on":[118],"top":[119],"risk":[122],"averse;":[123],"(iii)":[125],"transformations,":[127],"which":[128],"rebalance":[129],"unequal":[130],"equality,":[134],"characterized":[136],"in":[137],"terms":[138],"implied":[141],"turnover.":[142]},"counts_by_year":[],"updated_date":"2026-07-28T07:46:37.118299","created_date":"2016-11-30T00:00:00"}
