An optimal investment, consumption, leisure, and voluntary retirement problem with Cobb-Douglas utility: Dynamic programming approaches
نویسندگان
چکیده
We consider an optimal consumption, leisure, investment, and voluntary retirement problem for an agent with a Cobb–Douglas utility function. Using dynamic programming, we derive closed form solutions for the value function and optimal strategies for consumption, leisure, investment, and retirement.
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ورودعنوان ژورنال:
- Appl. Math. Lett.
دوره 26 شماره
صفحات -
تاریخ انتشار 2013