The utility-maximizing consumption and investment strategy of an individual investor receiving an unspanned labor … suggest an easy procedure for finding a specific, simple, and admissible consumption and investment strategy, which is near … stochastic interest rates, and to endogenous labor supply decisions. -- Optimal consumption and investment ; labor income …

We examine the investment decision problem of a group whose members have heterogeneous time preferences. In particular … exponential discounting for their collective investment decisions even if all agents discount exponentially.We also exhibit …

We examine the investment decision problem of a group whose members have heterogeneous time preferences. In particular … exponential discounting for their collective investment decisions even if all agents discount exponentially.We also exhibit …