Verification theorems for models of optimal consumption and investment with annuitization

One can find it challenging to deal with verification theorems for optimal consumption and investment problems with annuitization. I pose a tractable framework to prove verification theorems for the problems. I revisit an annuitization model of Park (2015) and prove the verification theorem for the...

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Veröffentlicht in:	Mathematical social sciences 2020-01, Vol.103, p.36-44
1. Verfasser:	Park, Seyoung
Format:	Artikel
Sprache:	eng
Schlagworte:	Annuities Annuitization Consumption Existence Inequality Investment Investment policy Investments Theorems Uniqueness Variational inequality Verification
Online-Zugang:	Volltext
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