Synopsis
The digital edition of all books may be viewed on our website before purchase. Excerpt from Consumption-Porfolio Policies
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Consumption-Porfolio Policies: An Inverse Optimal Problem (Classic Reprint)
impression à la demandeVendeur : Forgotten Books, London, Royaume-Uni
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Paperback. Etat : New. Print on Demand. This book presents a novel framework for analyzing the problem of optimal consumption and investment decisions in the presence of uncertain future conditions. Previous literature on this subject focused primarily on deriving optimal policies contingent on exogenous processes governing future uncertainty. This book, however, addresses the inverse problem - given an arbitrary consumption-portfolio policy, it seeks to determine necessary and sufficient conditions that must be satisfied such that the policy is an optimal solution for some economic agent with an increasing, strictly concave, time-additive, and state-independent utility function and under general specifications of the prices of risky assets. The author derives these conditions and offers an integral formula to recover the utility function that supports a given optimal policy, providing a dynamic recoverability perspective on incomplete financial markets with continuous trading. This book is a reproduction of an important historical work, digitally reconstructed using state-of-the-art technology to preserve the original format. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in the book. print-on-demand item. N° de réf. du vendeur 9781334017841_0
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ConsumptionPorfolio Policies An Inverse Optimal Problem Classic Reprint
Vendeur : PBShop.store US, Wood Dale, IL, Etats-Unis
Évaluation du vendeur 5 sur 5 étoiles
PAP. Etat : New. New Book. Shipped from UK. Established seller since 2000. N° de réf. du vendeur LW-9781334017841
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ConsumptionPorfolio Policies An Inverse Optimal Problem Classic Reprint
Vendeur : PBShop.store UK, Fairford, GLOS, Royaume-Uni
Évaluation du vendeur 4 sur 5 étoiles
PAP. Etat : New. New Book. Shipped from UK. Established seller since 2000. N° de réf. du vendeur LW-9781334017841
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CONSUMPTION-PORFOLIO POLICIES
Vendeur : moluna, Greven, Allemagne
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Etat : New. KlappentextrnrnExcerpt from Consumption-Porfolio Policies: An Inverse Optimal ProblemThe inverse problem studied here can be viewed as a dynamic recoverability problem in financial markets with continuous trading see Kurz (1969) and Cha. N° de réf. du vendeur 2148104620
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