Abrams, Robert A.; Karmarkar, Uday S. - In: Management Science 25 (1979) 10, pp. 1005-1013
We consider an infinite horizon investment-consumption problem in which the objective is to mmimize the discounted sum of the one period utilities. The one period utility function is assumed to be concave but may be unbounded. Both the state and action spaces are uncountable. If the average...