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Optimal Consumption and Investment with Bankruptcy

af Suresh P. Sethi
Optimal Consumption and Investment with Bankruptcy af Suresh P. Sethi
Bag om Optimal Consumption and Investment with Bankruptcy

The problem with Merton's solution is that it sometimes violates the constraints against negative wealth and negative consumption stated in Merton (1969) and presumably applicable in Merton (1971 and 1973).

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  • Sprog:
  • Engelsk
  • ISBN:
  • 9781461378716
  • Indbinding:
  • Paperback
  • Sideantal:
  • 428
  • Udgivet:
  • 10. oktober 2012
  • Udgave:
  • 11997
  • Størrelse:
  • 234x156x23 mm.
  • Vægt:
  • 688 g.
  • 8-11 hverdage.
  • 10. december 2024

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The problem with Merton's solution is that it sometimes violates the constraints against negative wealth and negative consumption stated in Merton (1969) and presumably applicable in Merton (1971 and 1973).

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