Optimal Consumption Sequence When Habituation Dominates Satiation

2018 ◽  
Author(s):  
Martin Egozcue ◽  
Luis Fuentes Garcca
Keyword(s):  
Optimal Consumption

Optimal Consumption and Insurance: A Continuous-time Markov Chain Approach

2008 ◽  
Vol 38 (01) ◽  
pp. 231-257 ◽  
Author(s):  
Holger Kraft ◽  
Mogens Steffensen
Keyword(s):  
Continuous Time ◽  
Optimal Solution ◽  
Decision Problems ◽  
Optimal Consumption ◽  
Continuous Time Markov Chain ◽  
Financial Decision Making ◽  
Markov Chain Approach ◽  
Special Cases ◽  
Financial Decision ◽  
The Individual

Personal financial decision making plays an important role in modern finance. Decision problems about consumption and insurance are in this article modelled in a continuous-time multi-state Markovian framework. The optimal solution is derived and studied. The model, the problem, and its solution are exemplified by two special cases: In one model the individual takes optimal positions against the risk of dying; in another model the individual takes optimal positions against the risk of losing income as a consequence of disability or unemployment.

Optimal Consumption Policies for Power-Constrained Flexible Loads Under Dynamic Pricing

2015 ◽  
Vol 6 (4) ◽  
pp. 1884-1892 ◽  
Author(s):  
Donatello Materassi ◽  
Saverio Bolognani ◽  
Mardavij Roozbehani ◽  
Munther A. Dahleh
Keyword(s):  
Dynamic Pricing ◽  
Optimal Consumption ◽  
Flexible Loads
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