Consumption and portfolio turnpike theor
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Xing Jin
📂
Article
📅
1998
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Elsevier Science
🌐
English
⚖ 182 KB
This paper investigates consumption and portfolio turnpike theorems in a continuous-time model. When the inverse functions of the derivative of utility functions for consumption and investment belong to a special subclass of regularly varying functions, it is shown that optimum portfolio, ÿnal wealt