Non-constant discounting and consumption, portfolio and life insurance rules

DOI10.1016/J.ECONLET.2013.02.023MaRDI QIDQ2437201zbMATH OpenOpenAlexFDO

Authors Jesús Marín-Solano, Oriol Roch, Jorge Navas

Publication date 3 March 2014

Published in Economics Letters (Search for Journal in Brave)

Full work available at URL https://doi.org/10.1016/j.econlet.2013.02.023

zbMATH Keywords

consumptionnon-constant discountingnaive and sophisticated agentshyperbolic preferencesportfolio and life insurance rules

Mathematics Subject Classification ID

Decision theory (91B06)

Recommendations

• Consumption, investment and life insurance strategies with heterogeneous discounting
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Cites work

• Consumption and portfolio rules for time-inconsistent investors
• Dynamic Choices of Hyperbolic Consumers
• Heterogeneous discounting in economic problems
• Non-constant discounting in continuous time
• The Calculus of Retirement Income
• Time-consistent portfolio management
• Time-inconsistent optimal control problems and the equilibrium HJB equation

Cited in

(8)

• Non-exponential discounting portfolio management with habit formation
• A solution method for heterogeneity involving present bias
• Consumption and portfolio rules for time-inconsistent investors
• Do time preferences matter in intertemporal consumption and portfolio decisions?
• Consumption, investment and life insurance strategies with heterogeneous discounting
• Optimal life insurance and annuity demand under hyperbolic discounting when bequests are luxury goods
• Consumption and portfolio decisions with uncertain lifetimes
• A life insurance model with asymmetric time preferences

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