Portfolio selection problem is one of the core research fields in modern financial management. While considering the transaction costs in the long term investment makes the portfolio selection problems more complex than there are no transaction costs. In this paper, the general multi-period investment problems with HARA utility function and proportional transaction costs are investigated. By us...

We discuss several topics related to the notion of strong hyperbolicity which are of interest in general relativity. After introducing the concept and showing its relevance we provide some covariant definitions of strong hyperbolicity. We then prove that is a system is strongly hyperbolic with respect to a given hypersurface, then it is also strongly hyperbolic with respect to any near by one. ...

Quasi-hyperbolic discounting is one of the most well-known and widely-used models to capture self-control problems in economics literature. The underlying assumption this model that agents have a present bias toward current consumption such all future rewards are downweighed relative (in addition standard exponential for length delay). We report meta-analytic dataset estimates parameter β based...