Figure 5
Graph showing delta d asterisk on vertical axis and risk aversion gamma on horizontal axis. Solid line labeled delta d asterisk decreases below zero, dashed line labeled Return decreases toward zero. Axes show continuous trends.

Portfolio allocation bias for two risky and a risk-free assets. The figure shows difference Δd* in the allocation to the dirty sector by the oil-based fund for the Post-COVID Scenario as defined in Table 2.

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