deriving product specifications for investment advisory services as a first step towards pricing（派生产品规范投资咨询服务作为定价的第一步）.pdf

Deriving Product Specifications for Investment Advisory Services as a First Step Towards Pricing Dona D. Mommsen-Ghosh Department of Informatics, University of Fribourg, Switzerland dona.mommsen@unifr.ch Abstract • provide a differentiated description of the actual service in terms of information and know-how involved in a This paper presents an approach to derive product spec- way that the resulting product could be priced. ifications for investment advisory services. The aim is to • be able to consider that customers of advisory services make investment advisory services independent products, consume information to different extents and make their providing a service model that can be priced. The study decisions independently from the recommendations of resulted in an object-oriented framework for a catalogue of the advisor. service specifications, called service modules. The differences between investment advisory and port- The approach combines the investment process with folio management mandates can be shown by the distribu- general elements of advisory services. This combination tion of the roles and activities between the investor allows one to distinguish the advisory as