Marín-Solano, Jesús; Navas, Jorge; Roch, Oriol - In: Economics Letters 119 (2013) 2, pp. 186-190
Consumption, portfolio and life insurance rules are studied for an investor with an arbitrary but known distribution of lifetime with time-inconsistent preferences. Solutions are found for naive and sophisticated agents for the family of CARA and CRRA utility functions. Effects of non-constant...