Optimal retirement in presence of stochastic labor income: a free boundary approach in an incomplete market

Daniele Marazzina

Papers from arXiv.org

Abstract: In this work, we address the optimal retirement problem in the presence of a stochastic wage, formulated as a free boundary problem. Specifically, we explore an incomplete market setting where the wage cannot be perfectly hedged through investments in the risk-free and risky assets that characterize the financial market.

Date: 2024-07, Revised 2025-03
New Economics Papers: this item is included in nep-age
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