Browsing Ikerlanak by Author "Pérez Kakabadse, Alonso"
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Consumption and portfolio rules whit stochastic hyperbolic discounting
Palacios Huerta, Ignacio; Pérez Kakabadse, Alonso (Departamento de Fundamentos del Análisis Económico I, 2013-09)We extend the classic Merton (1969, 1971) problem that investigates the joint consumption-savings and portfolio-selection problem under capital risk by assuming sophisticated but time-inconsistent agents. We introduce ...