Insights: Consumption, Investment and Insurance in the Game of Life

Volume 13, Number 3, 2015
Harry M. Markowitz

Markowitz (1991) proposed the development of a “Game of Life” simulator in which portfolio selection was just one type of move in the financial actions of a subject household. Sherri Grabot’s invitation to Markowitz in the late 1990s to form and join the design committee of GuidedChoice (originally a 401k advisory service) permitted Markowitz and team to take the first steps in applying the theory in practice, with favorable results for participants.