Finite horizon consumption and portfolio decisions with stochastic hyperbolic discounting

DOI10.1016/j.jmateco.2014.03.002zbMath1297.91134OpenAlexW1968047544MaRDI QIDQ2452217

Ziran Zou, Shou Chen, Lei Wedge

Publication date: 2 June 2014

Published in: Journal of Mathematical Economics (Search for Journal in Brave)

Full work available at URL: https://doi.org/10.1016/j.jmateco.2014.03.002

zbMATH Keywords

finite lifetimetime-inconsistencyconsumption and portfolio rulesstochastic hyperbolic discountinginstantaneous gratification discountingsophisticated individual

Mathematics Subject Classification ID

Portfolio theory (91G10)

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Cites Work

• Optimum consumption and portfolio rules in a continuous-time model
• Non-constant discounting in continuous time
• Consumption and portfolio rules for time-inconsistent investors
• Consumption and risk with hyperbolic discounting
• Non-constant discounting in finite horizon: the free terminal time case
• Option exercise with temptation
• Choice and Procrastination
• Contract Design and Self-Control: Theory and Evidence
• Temptation and Self-Control
• Time-Consistent Portfolio Management
• Ramsey Meets Laibson in the Neoclassical Growth Model
• Instantaneous Gratification *

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