Optimal Consumption and Investment

Tomas Bjork, Mariana Khapko () and Agatha Murgoci ()
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Mariana Khapko: University of Toronto
Agatha Murgoci: Ørsted

Chapter Chapter 13 in Time-Inconsistent Control Theory with Finance Applications, 2021, pp 133-137 from Springer

Abstract: Abstract In this chapter we consider a standard consumption–investment problem. In this problem, an economic agent, taking prices as given, makes decisions about how much to consume and how much to save, as well as how to allocate their savings between the available assets. (For the reader without previous experience from economic theory, Appendix A provides the necessary background on arbitrage and portfolio theory.)

Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprfcp:978-3-030-81843-2_13

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DOI: 10.1007/978-3-030-81843-2_13

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