Compare Prices | Create Shopping Lists with Price Drop Alerts | Set Coupons, Promo Codes & Sales Alerts | Get Access to Exclusive Deals and Much More... All in One Place | Read all about it here

Optimal Consumption and Investment with Bankruptcy

Optimal Consumption and Investment with Bankruptcy

Brand
Springer Nature
Manufacturer
N/A
Part Number
0
GTIN
9780792397557
Condition
New
Product Description

This book presents papers on continuous-time consumption investment models by Suresh Sethi and various co-authors. Sir Isaac Newton said that he saw so far because he stood on the shoulders of gi ants. Giants upon whose shoulders Professor Sethi and colleagues stand are Robert Merton, particularly Merton's (1969, 1971, 1973) seminal papers, and Paul Samuelson, particularly Samuelson (1969). Karatzas, Lehoczky, Sethi and Shreve (1986), henceforth KLSS, re produced here as Chapter 2, reexamine the model proposed by Mer ton. KLSS use methods of modern mathematical analysis, taking care to prove the existence of integrals, check the existence and (where appro priate) the uniqueness of solutions to equations, etc. KLSS find that un der some conditions Merton's solution is correct; under others, it is not. In particular, Merton's solution for aHARA utility-of-consumption is correct for some parameter values and not for others. The problem with Merton's solution is that it sometimes violates the constraints against negative wealth and negative consumption stated in Merton (1969) and presumably applicable in Merton (1971 and 1973). This not only affects the solution at the zero-wealth, zero-consumption boundaries, but else where as well. Problems with Merton's solution are analyzed in Sethi and Taksar (1992), reproduced here as Chapter 3.

Available Colors
Available Sizes
1 Offer Price Range: $129.00 - $129.00
BEST PRICE

Single Product Purchase

$129.00
@ Link.springer.com     BUY Now

Price Comparison

Seller Contact Seller List Price On Sale Shipping Best Promo Final Price Volume Discount Financing Availability Seller's Page
BEST PRICE
1 Product Purchase
@ Link.springer.com
Contact Store Call Store Contact Support
$129.00 $129.00

$129.00
See Site In stock Visit Store

Similar Products

Global Migration, Social Change, and Cultural Transformation

$54.99

Trends in Applications of Mathematics to Mechanics

$84.99

Community Colleges and the Access Effect

$54.99

Ordered Polymeric Nanostructures at Surfaces

$219.99

End-of-Life Care in der Intensivmedizin

$29.99

Steuerwettbewerb in Europa

$69.99

Mathematik im Betrieb

$59.99

Handbuch Dampfturbinen

$179.99

Regulating Free Speech in a Digital Age

$49.99

Discourses of Globalisation, Multiculturalism and Cultural Identity

$139.99

Trends in Industrial Engineering Applications to Manufacturing Process

$169.99

Angewandte Mathematik Finanzmathematik Statistik Informatik fr UPN-Rechner

$54.99

Counterclaims before the International Court of Justice

$109.99

Equilibrium Statistical Physics

$54.99

Elektromechanische Systeme der Mikrotechnik und Mechatronik

$79.99

Smart Energy Management

$119.99

The Palgrave Handbook of Comparative New Cinema Histories

$219.99

Transforming U.S. Climate Change Policies

$44.99

Transport, Trade and Economic Growth - Coupled or Decoupled?

$109.99

The Trustee Guide to Investment

$39.99

Legal Scholarship as a Source of Law

$59.99

Druck und Dynamik in den oberen Harnwegen

$59.99

Andreas Gryphius

$19.99

Octonions, Jordan Algebras and Exceptional Groups

$129.99

Kriegschirurgisches Merkblatt

$54.99

Three-Dimensional Attached Viscous Flow

$109.99

New Trends in Quantum Structures

$109.99

Japan Study as a Public Good in Asia

$54.99

Generalized Models and Non-classical Approaches in Complex Materials 1

$139.00

Handbuch Verkehrspolitik

$84.99

Mine Waste Management in China: Recent Development

$79.99

Historical Geography, GIScience and Textual Analysis

$199.99

Management Ethics

$39.99

Die Leiche im Kreuzverhr

$24.99

Socially Just Research with Young People

$139.99

Microbial Factories

$169.99

Fundamentals of Reinforcement Learning

$79.99

The Control of Oil

$64.99

Data Engineering in Medical Imaging

$169.99

Molekularakustik

$44.99