Mahayni, Antje; Schoenmakers, John G.M. - In: Journal of Economic Dynamics and Control 35 (2011) 11, pp. 1880-1897
Recently, there is a growing trend to offer guaranteed products where the investor is allowed to shift her account/investment value between multiple funds. The switching right is granted a finite number of times per year, i.e. it is American style with multiple exercise possibilities. In...