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It is considered the agent who optimizes the following utility function \\(U=E[\\int_0^{\\infty}\\exp\\{-\\beta t\\}u(c_{t})dt]\\), where \\(\\beta>0\\) is the subjective discount rate, \\(c_{t}\\) is the agent's rate of consumption at \\(t\\), \\(c_{s}\\geq c_{t}\\) \\(\\forall s\\geq t\\geq 0\\), and the felicity function \\(u(c)=c-Rc^2\\), \\(R>0\\).  The agent operates in a frictionless market with one risk-free asset and one risky asset. It is assumed that the risk-free interest rate \\(r>0\\) is a constant and the price \\(S_{t}\\) of the risky asset at time \\(t\\) evolves according to \\(dS_{t}/S_{t}=\\mu dt+\\sigma d B_{t}\\), where \\(\\mu>r\\). The agent's wealth process evolves according to the following dynamics \\(dX_{t}=[r X_{t}+\\pi_{t}(\\mu-r)-c_{t}]dt+\\sigma \\pi_{t}d B_{t}\\), \\(X_0=x>0\\), where \\(\\pi_{t}\\) is the dollar amount invested in the risky asset at time \\(t\\). The agent's optimization problem is following: given \\(c_{0-}\\ge 0\\) and \\(X_0=x>0\\) it is considered the utility maximization problem \\(V(x,c_{0-})=\\max_{(c,\\pi)}E[\\int_0^{\\infty} \\exp\\{-\\beta t\\}(c_{t}-Rc^2_{t})dt\\vert X_0=x]\\) subject to given wealth dynamics. 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