The Optimal Portfolio Based On The Theory Of The Mean-variance And The Bilateral Pricing Structure Of Different Platforms

Based on the life cycle assumption of consumption function theory,wealth man-agement is defined by wealth preservation,wealth increment,wealth ensure and wealth inheritance as the goal guidance.We also point out that the wealth management is the structured asset management,in view of the theory of mean-variance portfolio,as-sumes income process is a time-varying geometric Brownian motion,multi-objective programming model of optimal portfolio,the theoretical basis and empirical test of wealth increment,wealth ensure and wealth inheritance are presented,in the same market environment,all the results of test concidence with our intuition.Then the perspective of economic platform,based on bilateral market pricing formulas for dif-ferent platforms,Rochet and Tirole(2003)under the given pattern,follow both supply and demand determine the demand,the number of trading platforms and determine the optimal objective function for solving the three-step strategy to analyze the structure of bilateral monopoly pricing platform,Ramsey platform,the platform competition and public platforms.