Concepts, technical issues, and uses of the Russell–Yasuda Kasai financial planning model

Concepts, technical issues, and uses of the Russell–Yasuda Kasai financial planning model

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Article ID: iaor19991274
Country: United States
Volume: 46
Issue: 4
Start Page Number: 450
End Page Number: 462
Publication Date: Jul 1998
Journal: Operations Research
Authors: , ,
Keywords: programming: probabilistic
Abstract:

This paper discusses technical aspects of the Russell–Yasuda Kasai financial planning model. These include the models for the discrete distribution scenario generation processes for the uncertain parameters of the model, the mathematical approach used to develop the infinite-horizon end-effects part of the model, a comparison of algorithms used in the model's solution, and a comparison of the multistage stochastic linear programming model with the previous technology, static mean-variance analysis. Experience and benefits of the model in Yasuda Kasai's financial planning process are also discussed.

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