Non-constant discounting and consumption, portfolio and life insurance rules

被引：6
|
作者：
Marin-Solano, Jesus [1 ]
Navas, Jorge [1 ]
Roch, Oriol [1 ]
机构：
[1] Univ Barcelona, E-08007 Barcelona, Spain
来源：
ECONOMICS LETTERS | 2013年 / 119卷 / 02期
关键词：
Consumption; Portfolio and life insurance rules; Hyperbolic preferences; Non-constant discounting; Naive and sophisticated agents; TIME;
D O I：
10.1016/j.econlet.2013.02.023
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
Consumption, portfolio and life insurance rules are studied for an investor with an arbitrary but known distribution of lifetime with time-inconsistent preferences. Solutions are found for naive and sophisticated agents for the family of CARA and CRRA utility functions. Effects of non-constant discounting are illustrated numerically. (C) 2013 Elsevier B.V. All rights reserved.
引用
收藏
页码：186 / 190
页数：5
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