@article{EURECOM+6927, author = {Zhang, Fangyuan}, title = {Non-concave portfolio optimization with average value-at-risk}, journal = {Mathematics and Financial Economics, 4 March 2023}, year = {2023}, note = {© Springer. Personal use of this material is permitted. The definitive version of this paper was published in Mathematics and Financial Economics, 4 March 2023 and is available at : https://doi.org/10.1007/s11579-023-00332-0}, }