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Deep Reinforcement Learning for Robust Goal-Based Wealth Management
- Publication Year :
- 2023
-
Abstract
- Goal-based investing is an approach to wealth management that prioritizes achieving specific financial goals. It is naturally formulated as a sequential decision-making problem as it requires choosing the appropriate investment until a goal is achieved. Consequently, reinforcement learning, a machine learning technique appropriate for sequential decision-making, offers a promising path for optimizing these investment strategies. In this paper, a novel approach for robust goal-based wealth management based on deep reinforcement learning is proposed. The experimental results indicate its superiority over several goal-based wealth management benchmarks on both simulated and historical market data.
- Subjects :
- Quantitative Finance - Portfolio Management
Computer Science - Machine Learning
Subjects
Details
- Database :
- arXiv
- Publication Type :
- Report
- Accession number :
- edsarx.2307.13501
- Document Type :
- Working Paper
- Full Text :
- https://doi.org/10.1007/978-3-031-34111-3_7