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Hyperbolic discounting and life-cycle portfolio choice
Love, David A.; Phelan, Gregory - In: Journal of pension economics and finance 14 (2015) 4, pp. 492-524
Persistent link: https://www.econbiz.de/10011419716
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Hyperbolic discounting and life-cycle portfolio choice
Love, David A.; Phelan, Gregory - 2015
Persistent link: https://www.econbiz.de/10011333096
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Time consistent pension funding in a defined benefit pension plan with non-constant discounting
Josa-Fombellida, Ricardo; Navas, Jorge - In: Insurance / Mathematics & economics 94 (2020), pp. 142-153
Persistent link: https://www.econbiz.de/10012419190
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Value and patience : the value premium in a dividend-growth model with hyperbolic discounting
Hens, Thorsten; Schindler, Nilüfer - In: Journal of economic behavior & organization : JEBO 172 (2020), pp. 161-179
Persistent link: https://www.econbiz.de/10012288183
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Asset allocation, sustainable withdrawal, longevity risk and non-exponential discounting
Delong, Łukasz; Chen, An - In: Insurance / Mathematics & economics 71 (2016), pp. 342-352
Persistent link: https://www.econbiz.de/10011630868
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A theory of intermediated investment with hyperbolic discounting investors
Gao, Feng; He, Alex Xi; He, Ping - In: Journal of economic theory 177 (2018), pp. 70-100
Persistent link: https://www.econbiz.de/10012025683
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Life insurance and annuity demand under hyperbolic discounting
Tang, Siqi; Purcal, T. Sachi; Zhang, Jinhui - In: Risks : open access journal 6 (2018) 2, pp. 1-10
In this paper, we analyse and construct a lifetime utility maximisation model with hyperbolic discounting. Within the … (exponential discounting). We find: (1) investors (realistically) demand more life insurance after retirement (in contrast to the …
Persistent link: https://www.econbiz.de/10011866415
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Hyperbolic Discounting and Life-Cycle Portfolio Choice
Love, David A. - 2016
This paper studies how hyperbolic discounting affects stock market participation, asset allocation, and saving … decisions over the life cycle in an economy with Epstein-Zin preferences. Hyperbolic discounting affects saving and portfolio … discounting on all of the model's decision rules and simulated levels of participation, allocation, and wealth. Finally, we …
Persistent link: https://www.econbiz.de/10012983233
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A theory of Markovian time-inconsistent stochastic control in discrete time
Björk, Tomas; Murgoci, Agatha - In: Finance and stochastics 18 (2014) 3, pp. 545-592
Persistent link: https://www.econbiz.de/10010396002
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Finite horizon consumption and portfolio decisions with stochastic hyperbolic discounting
Zou, Ziran; Chen, Shou; Wedge, Lei - In: Journal of mathematical economics 52 (2014), pp. 70-80
Persistent link: https://www.econbiz.de/10010495171