Article ID Journal Published Year Pages File Type
5059601 Economics Letters 2013 5 Pages PDF
Abstract
Consumption, portfolio and life insurance rules are studied for an investor with an arbitrary but known distribution of lifetime with time-inconsistent preferences. Solutions are found for naive and sophisticated agents for the family of CARA and CRRA utility functions. Effects of non-constant discounting are illustrated numerically.
Keywords
Related Topics
Social Sciences and Humanities Economics, Econometrics and Finance Economics and Econometrics
Preview
Non-constant discounting and consumption, portfolio and life insurance rules
Authors
, , ,