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Consumption-portfolio choice with subsistence consumption and risk aversion change at retirement
This paper considers subsistence consumption of an economic agent both before and after retirement in analyzing the optimal consumption, portfolio, and retirement problem. We allow the relative risk aversion of the economic agent to make a one-off jump at retirement. With a Cobb–Douglas utility func...
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| Formato: | Online Artículo Texto |
| Lenguaje: | English |
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Springer International Publishing
2018
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| Acceso en línea: | https://www.ncbi.nlm.nih.gov/pmc/articles/PMC6061655/ https://www.ncbi.nlm.nih.gov/pubmed/30137893 http://dx.doi.org/10.1186/s13660-018-1756-1 |