Similar Search Results

Sensitivity of optimal consumption streams

Herdegen, Martin; Muhle-Karbe, Johannes - 2015

We study the sensitivity of optimal consumption streams with respect to perturbations of the random endowment. At the leading order, the consumption adjustment does not matter: any choice that matches the budget constraint simply shifts the original utility by the marginal value of the...

Persistent link: https://www.econbiz.de/10011412135

Dynamic Consumption and Portfolio Choice under Prospect Theory

van Bilsen, Servaas - 2019

discuss implications of our results for the design of investment-linked annuity products …

Persistent link: https://www.econbiz.de/10012869108

Optimal Consumption and Investment with Epstein-Zin Recursive Utility

Kraft, Holger - 2016

We study continuous-time optimal consumption and investment with Epstein-Zin recursive preferences in incomplete …

Persistent link: https://www.econbiz.de/10013006546

Optimal consumption and investment with Epstein-Zin recursive utility

Kraft, Holger; Seiferling, Thomas; Seifried, Frank Thomas - 2016 - This version: May 31, 2016

We study continuous-time optimal consumption and investment with Epstein-Zin recursive preferences in incomplete …

Persistent link: https://www.econbiz.de/10012061099

Optimal Consumption and Investment with Labor Income Uncertainty and Endogenous Retirement

Woolley, Matthew M. - 2004

This paper characterizes optimal consumption and investment policies for investors with asset return predictability … financial portfolios. By endogenizing retirement, human capital becomes dependent on savings and investment decisions, which in …

Persistent link: https://www.econbiz.de/10014069598