We study an optimal consumption, investment, and retirement decision of an economic agent with borrowing constraints under a general class of utility functions. We transform the problem into a dual two-person zero-sum game, which involves two players: a stopper who is a maximizer and chooses a...

In this paper, we investigate the impact of the option to retire and subsequently reverse that decision on an individual's consumption and portfolio decisions. The two job status states considered are the working state, which generates positive labor income, and the retirement state with zero...