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Optimal consumption and portfolio policies with the consumption habit constraints and the terminal wealth downside constraints

โœ Scribed by Haili Yuan; Yijun Hu


Book ID
108153158
Publisher
Elsevier Science
Year
2009
Tongue
English
Weight
1010 KB
Volume
45
Category
Article
ISSN
0167-6687

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๐Ÿ“œ SIMILAR VOLUMES


Optimal consumption/investment policies
โœ Claus Munk ๐Ÿ“‚ Article ๐Ÿ“… 2000 ๐Ÿ› Elsevier Science ๐ŸŒ English โš– 606 KB

This paper examines the continuous time optimal consumption and portfolio choice of an investor having an initial wealth endowment and an uncertain stream of income from non-traded assets. The income stream is not spanned by traded assets and the investor is not allowed to borrow against future inco