کد مقاله | کد نشریه | سال انتشار | مقاله انگلیسی | نسخه تمام متن |
---|---|---|---|---|
13461414 | 1845205 | 2020 | 9 صفحه PDF | دانلود رایگان |
عنوان انگلیسی مقاله ISI
Verification theorems for models of optimal consumption and investment with annuitization
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موضوعات مرتبط
مهندسی و علوم پایه
ریاضیات
ریاضیات کاربردی
پیش نمایش صفحه اول مقاله
چکیده انگلیسی
One can find it challenging to deal with verification theorems for optimal consumption and investment problems with annuitization. I pose a tractable framework to prove verification theorems for the problems. I revisit an annuitization model of Park (2015) and prove the verification theorem for the model. A key idea of the proof is the application of the variational inequality approach of Bensoussan and Lions (1982) to the annuitization problem solved by the suggested value function. Further, I obtain analytic comparative statics for the optimal consumption and investment strategies with annuitization.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Mathematical Social Sciences - Volume 103, January 2020, Pages 36-44
Journal: Mathematical Social Sciences - Volume 103, January 2020, Pages 36-44
نویسندگان
Seyoung Park,