Abstract:Based on lower partial moments risk measure,we establish a lower partial moments behavior portfolio theory (LBPT).We discuss the meanings of model parameter B and how to choose,and get the linear pro- gramming form of single mental account LBPT (LBPT-SA).Example analysis shows that the LBPT-SA effi- cient frontier resemble that of MV bolt with high aspiration and with low aspiration,as is different with BPT. There are also some differences between LBPT and BPT in risk measure index,hypothesis pr...