Bank, Peter; Riedel, Frank - 1999
Bank and Riedel (1998) to the stochastic case. Existence and uniqueness of optimal consumption plans are established under …-Tuckerlike necessary and sufficient conditions for optimality are given. Using this characterization, we show that optimal consumption … the structure of the underlying stochastics, optimal consumption occurs at rates, in gulps, or singular to Lebesgue …