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Purchase of art: Consumption and investment

✍ Scribed by M. M. G. Fase


Publisher
Springer
Year
1996
Tongue
English
Weight
604 KB
Volume
144
Category
Article
ISSN
0013-063X

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✍ Xikui Wang; Yan Wang πŸ“‚ Article πŸ“… 2010 πŸ› John Wiley and Sons 🌐 English βš– 145 KB

## Abstract We use the statistical model of bandit processes to formulate and solve two kinds of optimal investment and consumption problems. The payoffs from the investment are dividend payments with fixed return rates, but the payment frequency is stochastic following a Poisson distribution. The