Human capital and portfolio choice: borrowing constraint and reversible retirement

DOI10.1007/S11579-024-00362-2MaRDI QIDQ6594802zbMATH OpenFDO

Authors Junkee Jeon, Hyeng Keun Koo, Minsuk Kwak

Publication date 28 August 2024

Published in Mathematics and Financial Economics (Search for Journal in Brave)

Full work available at URL https://doi.org/10.1007/S11579-024-00362-2

zbMATH Keywords

borrowing constraintshuman capitalmarginal value of financial wealthoptimal risky investmentreversible retirement

Mathematics Subject Classification ID

Duality theory (optimization) (49N15) Labor markets (91B39) Portfolio theory (91G10)

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Cites work

• A two-person zero-sum game approach for a retirement decision with borrowing constraints
• Asset Pricing and Optimal Portfolio Choice in the Presence of Illiquid Durable Consumption Goods
• Borrowing constraints, effective flexibility in labor supply, and portfolio selection
• Consumption and Portfolio Selection with Labor Income: A Continuous Time Approach
• Controlled Markov processes and viscosity solutions
• Convex Analysis
• DISUTILITY, OPTIMAL RETIREMENT, AND PORTFOLIO SELECTION
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• scientific article; zbMATH DE number 4078444 (Why is no real title available?)
• scientific article; zbMATH DE number 1095739 (Why is no real title available?)
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• Lifetime consumption and investment: retirement and constrained borrowing
• Optimal consumption and investment with welfare constraints
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• Optimal consumption and portfolio selection with early retirement option
• Optimal consumption-portfolio choices and retirement planning
• Optimal Portfolio and Consumption Decisions for a “Small Investor” on a Finite Horizon
• OPTIMAL PORTFOLIO, CONSUMPTION‐LEISURE AND RETIREMENT CHOICE PROBLEM WITH CES UTILITY
• Optimum consumption and portfolio rules in a continuous-time model
• Super contact and related optimality conditions
• The impact of a partial borrowing limit on financial decisions
• Utility Maximization with Discretionary Stopping
• Valuation of Investments in Real Assets with Implications for the Stock Prices
• Verification theorems for models of optimal consumption and investment with retirement and constrained borrowing

Cited in

(1)

• Optimal portfolio and labor-leisure decisions with intolerance for declining standards of living

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