{"title":"Optimal Consumption and Investment","authors":"T. Björk","doi":"10.1093/oso/9780198851615.003.0026","DOIUrl":null,"url":null,"abstract":"In this chapter we apply the general theory from Chapter 25 to the study of optimal consumption and investment problems. We solve the Merton problem and we derive the Merton mutual fund theorems.","PeriodicalId":311283,"journal":{"name":"Arbitrage Theory in Continuous Time","volume":"1 1","pages":"0"},"PeriodicalIF":0.0000,"publicationDate":"2019-12-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"6","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Arbitrage Theory in Continuous Time","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.1093/oso/9780198851615.003.0026","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"","JCRName":"","Score":null,"Total":0}
引用次数: 6
Abstract
In this chapter we apply the general theory from Chapter 25 to the study of optimal consumption and investment problems. We solve the Merton problem and we derive the Merton mutual fund theorems.
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