Overconfidence and consumption over the life cycle
نویسندگان
چکیده
منابع مشابه
Optimal Housing, Consumption, and Investment Decisions over the Life Cycle
We provide explicit solutions to life-cycle utility maximization problems simultaneously involving dynamic decisions on investments in stocks and bonds, consumption of perishable goods, and the rental and the ownership of residential real estate. House prices, stock prices, interest rates, and the labor income of the decision-maker follow correlated stochastic processes. The preferences of the ...
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ژورنال
عنوان ژورنال: Journal of Macroeconomics
سال: 2008
ISSN: 0164-0704
DOI: 10.1016/j.jmacro.2007.10.001