Title of article
An optimal investment, consumption, leisure, and voluntary retirement problem with Cobb–Douglas utility: Dynamic programming approaches
Author/Authors
Koo، نويسنده , , Jung Lim and Koo، نويسنده , , Byung Lim and Shin، نويسنده , , Yong Hyun، نويسنده ,
Issue Information
روزنامه با شماره پیاپی سال 2013
Pages
6
From page
481
To page
486
Abstract
We consider an optimal consumption, leisure, investment, and voluntary retirement problem for an agent with a Cobb–Douglas utility function. Using dynamic programming, we derive closed form solutions for the value function and optimal strategies for consumption, leisure, investment, and retirement.
Keywords
Voluntary retirement , Consumption and leisure , dynamic programming method , Portfolio Selection , Cobb–Douglas utility
Journal title
Applied Mathematics Letters
Serial Year
2013
Journal title
Applied Mathematics Letters
Record number
1528919
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