<?xml version="1.0" encoding="ISO-8859-1"?><article xmlns:mml="http://www.w3.org/1998/Math/MathML" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance">
<front>
<journal-meta>
<journal-id>1665-5346</journal-id>
<journal-title><![CDATA[Revista mexicana de economía y finanzas]]></journal-title>
<abbrev-journal-title><![CDATA[Rev. mex. econ. finanz]]></abbrev-journal-title>
<issn>1665-5346</issn>
<publisher>
<publisher-name><![CDATA[Instituto Mexicano de Ejecutivos de Finanzas A.C.]]></publisher-name>
</publisher>
</journal-meta>
<article-meta>
<article-id>S1665-53462025000200008</article-id>
<article-id pub-id-type="doi">10.21919/remef.v20i2.870</article-id>
<title-group>
<article-title xml:lang="es"><![CDATA[Selección de cartera: un enfoque de sesgos de comportamiento]]></article-title>
<article-title xml:lang="en"><![CDATA[Portfolio Selection: A Behavior Biased Approach]]></article-title>
</title-group>
<contrib-group>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Vargas Serrano]]></surname>
<given-names><![CDATA[Francisco]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Montoya]]></surname>
<given-names><![CDATA[José Arturo]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Jiménez Hernández]]></surname>
<given-names><![CDATA[José del Carmen]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
</contrib-group>
<aff id="Af1">
<institution><![CDATA[,Universidad de Sonora  ]]></institution>
<addr-line><![CDATA[ ]]></addr-line>
<country>Mexico</country>
</aff>
<aff id="Af2">
<institution><![CDATA[,Universidad Tecnológica de la Mixteca  ]]></institution>
<addr-line><![CDATA[ ]]></addr-line>
<country>Mexico</country>
</aff>
<pub-date pub-type="pub">
<day>00</day>
<month>06</month>
<year>2025</year>
</pub-date>
<pub-date pub-type="epub">
<day>00</day>
<month>06</month>
<year>2025</year>
</pub-date>
<volume>20</volume>
<numero>2</numero>
<copyright-statement/>
<copyright-year/>
<self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_arttext&amp;pid=S1665-53462025000200008&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_abstract&amp;pid=S1665-53462025000200008&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_pdf&amp;pid=S1665-53462025000200008&amp;lng=en&amp;nrm=iso"></self-uri><abstract abstract-type="short" xml:lang="es"><p><![CDATA[Resumen El objetivo es proporcionar carteras financieras óptimas en función de una verosimilitud normal, una distribución a priori sobre los parámetros del modelo de valoración de activos y la opinión del inversionista sobre cómo ponderar la verosimilitud y la a priori en la construcción de la cartera. Se aplica la metodología de inferencia bayesiana sesgada a la selección de carteras de media-varianza, con diferentes configuraciones de sesgo o ponderación. Los resultados muestran una propuesta eficaz para encontrar carteras óptimas que reflejen ponderaciones hechas sobre la verosimilitud y las creencias a priori. Además, incluir sesgos en la selección de carteras puede ser relevante para la optimización de la cartera. La propuesta contribuye al campo de los sesgos de finanzas conductuales y se puede aplicar fácilmente a otros modelos financieros que han sido tratados desde un enfoque bayesiano. En conclusión, la propuesta proporciona ponderaciones óptimas para la cartera que reflejan tanto los datos como las creencias, y la inclusión de sesgos en la optimización de la cartera puede ayudar a construir carteras óptimas que incorporen preferencias de riesgo y objetivos de inversión.]]></p></abstract>
<abstract abstract-type="short" xml:lang="en"><p><![CDATA[Abstract Here the goal is to provide optimal financial portfolios based on a normal likelihood, an a priori distribution on the parameters of the asset valuation model, and the investor's opinion on how to weigh likelihood and a priori in portfolio construction. The biased Bayesian inference methodology is applied to the selection of mean-variance portfolios, with different bias or weighting configurations. The results show an effective proposal to find optimal portfolios that reflect weightings made on likelihood and a priori beliefs. In addition, including biases in portfolio selection can be relevant to portfolio optimization. The proposal contributes to the field of behavioral finance biases and can be easily applied to other financial models that have been treated from a Bayesian approach. In conclusion, the proposal provides optimal weights for the portfolio that reflect both data and beliefs, and the inclusion of biases in portfolio optimization can help build optimal portfolios that incorporate risk preferences and investment objectives.]]></p></abstract>
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<kwd lng="es"><![CDATA[G410]]></kwd>
<kwd lng="es"><![CDATA[G170]]></kwd>
<kwd lng="es"><![CDATA[asignación de activos]]></kwd>
<kwd lng="es"><![CDATA[optimización de cartera]]></kwd>
<kwd lng="es"><![CDATA[carteras de media-varianza]]></kwd>
<kwd lng="es"><![CDATA[carteras de razón de Sharpe óptima]]></kwd>
<kwd lng="es"><![CDATA[sesgos de comportamiento]]></kwd>
<kwd lng="es"><![CDATA[inferencia bayesiana sesgada]]></kwd>
<kwd lng="en"><![CDATA[G1]]></kwd>
<kwd lng="en"><![CDATA[G11]]></kwd>
<kwd lng="en"><![CDATA[G41]]></kwd>
<kwd lng="en"><![CDATA[G110]]></kwd>
<kwd lng="en"><![CDATA[G410]]></kwd>
<kwd lng="en"><![CDATA[G170]]></kwd>
<kwd lng="en"><![CDATA[asset allocation]]></kwd>
<kwd lng="en"><![CDATA[portfolio optimization]]></kwd>
<kwd lng="en"><![CDATA[mean-variance portfolios]]></kwd>
<kwd lng="en"><![CDATA[Sharpe ratio optimal portfolio]]></kwd>
<kwd lng="en"><![CDATA[behavioral biases]]></kwd>
<kwd lng="en"><![CDATA[biased Bayesian inference]]></kwd>
</kwd-group>
</article-meta>
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