Clarkson, Geoffrey P. E.

A model of the trust investment process


The investment process is a problem in decision-making under uncertainty. Our model, written as a computer program, simulates the proce- dures used in choosing investment policies for particular accounts, in evaluating the alternatives presented by the market, and in selecting the required portfolios. The analysis is based on the operations at a medium-sized national bank 1 and the decision-maker of our model is the trust imvestment officer.2 From A Simulation of Trust Investment, Englewood Cliffs, N.J.: Prentice-Hall, 1961.