摘要：AbstractHuman with high risk aversion aims to minimize the risk of loss whereas the human with low risk aversion desires to maximize the return. The objective of this paper is to study the impact of human behaviour towards different level of risk aversion for portfolio selection in Malaysia. The portfolio selection is developed for low, moderate and high risk aversion by using decision making model. The results of this study show that the human behaviour towards different level of risk aversion gives different portfolio selection and portfolio performance in Malaysia.
