An optimal consumption, investment and voluntary retirement choice problem with disutility and subsistence consumption constraints: a dynamic programming approach (Q2348495)
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scientific article; zbMATH DE number 6445491
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| English | An optimal consumption, investment and voluntary retirement choice problem with disutility and subsistence consumption constraints: a dynamic programming approach |
scientific article; zbMATH DE number 6445491 |
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An optimal consumption, investment and voluntary retirement choice problem with disutility and subsistence consumption constraints: a dynamic programming approach (English)
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12 June 2015
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The paper ``investigates an optimal consumption/portfolio problem of an agent with voluntary retirement and subsistence consumption constraints before retirement''. The authors ``use the dynamic programming method to obtain explicit forms of the optimal consumption/portfolio and retirement time''.
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voluntary retirement
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portfolio selection
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subsistence consumption constraints
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CRRA utility
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dynamic programming method
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0.95815116
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0.9546565
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0.93661386
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0.90458035
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0.9034334
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0.8980664
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0.8902217
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0.8896053
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