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Optimal Consumption and Investment with Bankruptcy

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.
  • 4. Oktober 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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