Dynamic Asset Allocation and Retirement Decision with Consumption Ratcheting and Effort Choice
This study examines the problem of choosing optimal consumption, investment, early retirement, and effort levels for an economic agent who is unwilling to reduce their consumption over time. The agent’s income depends on a fixed wage rate, and varies proportionally with their level of effort, which...
Saved in:
| Main Authors: | , |
|---|---|
| Format: | Article |
| Language: | English |
| Published: |
MDPI AG
2024-12-01
|
| Series: | Mathematics |
| Subjects: | |
| Online Access: | https://www.mdpi.com/2227-7390/12/23/3821 |
| Tags: |
Add Tag
No Tags, Be the first to tag this record!
|