Optimal Consumption with a Stochastic Income Stream

DOI10.2307/1911975MaRDI QIDQ4055351zbMATH OpenOpenAlexFDO

Authors Bruce L. Miller

Publication date 1974

Published in Econometrica (Search for Journal in Brave)

Full work available at URL https://doi.org/10.2307/1911975

Mathematics Subject Classification ID

Applications of statistics to economics (62P20) Decision theory (91B06)

Cited in

(11)

• Capital accumulation and the optimization of renewable resource models
• The effect on optimal consumption on increased uncertainty in labor income in the multiperiod case
• An income fluctuation problem
• Labor income, borrowing constraints, and equilibrium asset prices
• Precautionary wealth accumulation: A positive third derivative is not enough
• The Markov consumption problem
• Optimal life insurance with no-borrowing constraints: duality approach and example
• Lie group analysis of nonlinear Black-Scholes models
• Household consumption-investment-insurance decisions with uncertain income and market ambiguity
• Optimal consumption, the interest rate and wage uncertainty
• The structure of optimal consumption streams in general incomplete markets

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