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
9781461562573
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

Analytical Thermodynamics

$54.99

Lineare Algebra und Analytische Geometrie II

$49.99

Discrete Optimization in Architecture

$54.99

The Art of Digital Marketing for Fashion and Luxury Brands

$179.99

The Wave Finite Element Method

$119.00

Research in Computer Science and Its Applications

$54.99

Operations Management for Social Good

$259.00

Semiconductors

$249.99

High Performance Computing Systems. Performance Modeling, Benchmarking, and Simulation

$54.99

Aquatic Oligochaetes

$39.99

Thin-Film Capacitors for Packaged Electronics

$109.99

Surface Analysis by Electron Spectroscopy

$109.99

Theorie und Erfahrung

$49.99

Hans Blumenberg: Pdagogische Lektren

$44.99

Stylish F# 6

$64.99

Automation in Analytical Chemistry

$39.99

rztliche Behandlung an der Grenze des Lebens

$59.99

Systems and Control in the Twenty-First Century

$129.00

New Aspects on Tethyan Cretaceous Fossil Assemblages

$54.99

Scaling OpenMP for Exascale Performance and Portability

$54.99

Computer-Human Interaction Research and Applications

$84.99

Designing Software Intensive Products

$39.99

Afro-European Conference for Industrial Advancement

$169.99

Glycobiology of the Nervous System

$169.00

Information Security Risk Management

$74.99

Predictive Intelligence in Medicine

$54.99

Privatizing Eastern Europe

$84.99

Writings on Physics and Philosophy

$89.99

Mit losgebundenen Flgeln

$69.99

Innovations in Diagnostic Radiology

$84.99

Spatial Analysis in Karst Geomorphology: An Example from Krk Island, Croatia

$119.00

Identification of Ligand Binding Site and Protein-Protein Interaction Area

$169.99

Statistik im Bachelor-Studium

$29.99

Digitale Demokratie: Mythos oder Realitt?

$69.99

Languages and Compilers for Parallel Computing

$54.99

Interessen und Institutionen in der internationalen Politik

$64.99

A First Course in Real Analysis

$39.99

Law and Religious Cultural Heritage in Europe

$109.99

Political Culture and Media Genre

$19.99

Roland Barthes

$44.99