Abstract
A preference model wherein current wealth and a summary description of past consumption condition preferences for future consumption is used to develop relationships between optimal consumption and portfolio strategies. Financial variables are described by a continuous-time, continuous-state, stochastic process. The results complement and extend results of previous models.
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References
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© 1983 Springer-Verlag Berlin Heidelberg
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Bodily, S.E., White, C.C. (1983). Optimal Consumption and Portfolio Strategies in a Continuous-Time Model with Summary-Dependent Preferences. In: Hansen, P. (eds) Essays and Surveys on Multiple Criteria Decision Making. Lecture Notes in Economics and Mathematical Systems, vol 209. Springer, Berlin, Heidelberg. https://doi.org/10.1007/978-3-642-46473-7_1
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DOI: https://doi.org/10.1007/978-3-642-46473-7_1
Publisher Name: Springer, Berlin, Heidelberg
Print ISBN: 978-3-540-11991-3
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