Optimal retirement consumption with a stochastic force of mortality
نویسندگان
چکیده
منابع مشابه
Optimal investment, stochastic labor income and retirement
We address the optimal consumption-investment-retirement problem considering stochastic labor income. We study the Merton problem assuming that the agent has to take four different decisions: the retirement date which is irreversible; the labor and the consumption rate and the portfolio decision before retirement. After retirement the agent only chooses the portfolio and the consumption rate. W...
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ژورنال
عنوان ژورنال: Insurance: Mathematics and Economics
سال: 2012
ISSN: 0167-6687
DOI: 10.1016/j.insmatheco.2012.03.013