Optimal consumption of a divisible durable good

DOI10.1016/S0165-1889(99)00003-2zbMath1031.91045MaRDI QIDQ1606182

Hong Liu, Domenico Cuoco

Publication date: 29 July 2002

Published in: Journal of Economic Dynamics \& Control (Search for Journal in Brave)

zbMATH Keywords

value functioninvestmentgeometric Brownian motionoptimal consumptionoptimal policycontinuous-time economyisoelastic utility functionstochastic portfolio weights

Mathematics Subject Classification ID

Consumer behavior, demand theory (91B42) Special types of economic markets (including Cournot, Bertrand) (91B54)

Related Items (6)

Portfolio optimization: not necessarily concave utility and constraints on wealth and allocation ⋮ Intertemporal preference with loss aversion: consumption and risk-attitude ⋮ Optimal life-cycle consumption and investment decisions under age-dependent risk preferences ⋮ Illiquidity, position limits, and optimal investment for mutual funds ⋮ Optimal consumption and investment strategies with a perishable and an indivisible durable consumption good ⋮ Consuming durable goods when stock markets jump: a strategic asset allocation approach

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