Optimal Consumption and Investment with Labor Income and European/American Capital Guarantee
We present the optimal consumption and investment strategy for an investor, endowed with labor income, searching to maximize utility from consumption and terminal wealth when facing a binding capital constraint of a European (constraint on terminal wealth) or an American (constraint on the wealth pr...
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| Format: | Article |
| Language: | English |
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MDPI AG
2014-05-01
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| Series: | Risks |
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| Online Access: | http://www.mdpi.com/2227-9091/2/2/171 |