Items related to Optimal Consumption and Investment with Bankruptcy

Optimal Consumption and Investment with Bankruptcy - Hardcover

 
9780792397557: Optimal Consumption and Investment with Bankruptcy

Synopsis

This book presents papers on continuous-time consumption­ investment models by Suresh Sethi and various co-authors. Sir Isaac Newton said that he saw so far because he stood on the shoulders of gi­ ants. Giants upon whose shoulders Professor Sethi and colleagues stand are Robert Merton, particularly Merton's (1969, 1971, 1973) seminal papers, and Paul Samuelson, particularly Samuelson (1969). Karatzas, Lehoczky, Sethi and Shreve (1986), henceforth KLSS, re­ produced here as Chapter 2, reexamine the model proposed by Mer­ ton. KLSS use methods of modern mathematical analysis, taking care to prove the existence of integrals, check the existence and (where appro­ priate) the uniqueness of solutions to equations, etc. KLSS find that un­ der some conditions Merton's solution is correct; under others, it is not. In particular, Merton's solution for aHARA utility-of-consumption is correct for some parameter values and not for others. The problem with Merton's solution is that it sometimes violates the constraints against negative wealth and negative consumption stated in Merton (1969) and presumably applicable in Merton (1971 and 1973). This not only affects the solution at the zero-wealth, zero-consumption boundaries, but else­ where as well. Problems with Merton's solution are analyzed in Sethi and Taksar (1992), reproduced here as Chapter 3.

"synopsis" may belong to another edition of this title.

Synopsis

In a set of articles published in 1979 and 1983, Suresh Sethi and various co-authors introduced a bankruptcy value/penalty in the consumption/investment model. They also introduced a nonzero subsistence consumption level, which makes the consideration of bankruptcy even more important. This provided the ability to deal mathematically with the problems of bankruptcy in the study of consumption and investment. This text provides a frame for deepening understanding of the consumption and portfolio selection behaviour of individuals and households.

"About this title" may belong to another edition of this title.

Buy Used

Condition: Very Good
428 Seiten Der Erhaltungszustand...
View this item

£ 13.84 shipping from Germany to U.S.A.

Destination, rates & speeds

Other Popular Editions of the Same Title

9781461378716: Optimal Consumption and Investment with Bankruptcy

Featured Edition

ISBN 10:  1461378710 ISBN 13:  9781461378716
Publisher: Springer, 2012
Softcover

Search results for Optimal Consumption and Investment with Bankruptcy

Seller Image

Suresh P. Sethi
Published by Springer, 1996
ISBN 10: 079239755X ISBN 13: 9780792397557
New Hardcover

Seller: Solr Books, Lincolnwood, IL, U.S.A.

Seller rating 5 out of 5 stars 5-star rating, Learn more about seller ratings

Condition: new. Seller Inventory # 5D4000009VJT_ns

Contact seller

Buy New

£ 67.22
Convert currency
Shipping: £ 5.91
Within U.S.A.
Destination, rates & speeds

Quantity: 1 available

Add to basket

Seller Image

Sethi, Suresh P.:
Published by Springer, 1997
ISBN 10: 079239755X ISBN 13: 9780792397557
Used Hardcover

Seller: books4less (Versandantiquariat Petra Gros GmbH & Co. KG), Welling, Germany

Seller rating 5 out of 5 stars 5-star rating, Learn more about seller ratings

gebundene Ausgabe. Condition: Gut. 428 Seiten Der Erhaltungszustand des hier angebotenen Werks ist trotz seiner Bibliotheksnutzung sehr sauber und kann entsprechende Merkmale aufweisen (Rückenschild, Instituts-Stempel.). In ENGLISCHER Sprache. Sprache: Englisch Gewicht in Gramm: 960. Seller Inventory # 2222665

Contact seller

Buy Used

£ 98.31
Convert currency
Shipping: £ 13.84
From Germany to U.S.A.
Destination, rates & speeds

Quantity: 1 available

Add to basket

Stock Image

Sethi, Suresh P.
Published by Kluwer, Boston, 1997
ISBN 10: 079239755X ISBN 13: 9780792397557
Used Hardcover First Edition

Seller: Feldman's Books, Menlo Park, CA, U.S.A.

Seller rating 5 out of 5 stars 5-star rating, Learn more about seller ratings

Hardcover. Condition: Near Fine. 1st Edition. Seller Inventory # 045445

Contact seller

Buy Used

£ 114.38
Convert currency
Shipping: £ 3.33
Within U.S.A.
Destination, rates & speeds

Quantity: 1 available

Add to basket

Stock Image

Sethi, Suresh P.
ISBN 10: 079239755X ISBN 13: 9780792397557
Used Hardcover

Seller: Bingo Books 2, Vancouver, WA, U.S.A.

Seller rating 4 out of 5 stars 4-star rating, Learn more about seller ratings

Hardcover. Condition: Near Fine. hardback book in near fine condition. Seller Inventory # 90929

Contact seller

Buy Used

£ 115.91
Convert currency
Shipping: £ 4.66
Within U.S.A.
Destination, rates & speeds

Quantity: 1 available

Add to basket

Stock Image

Suresh P. Sethi
Published by Springer, 1996
ISBN 10: 079239755X ISBN 13: 9780792397557
New Hardcover

Seller: Best Price, Torrance, CA, U.S.A.

Seller rating 5 out of 5 stars 5-star rating, Learn more about seller ratings

Condition: New. SUPER FAST SHIPPING. Seller Inventory # 9780792397557

Contact seller

Buy New

£ 128.75
Convert currency
Shipping: £ 5.91
Within U.S.A.
Destination, rates & speeds

Quantity: 2 available

Add to basket

Stock Image

Suresh P. Sethi
Published by Springer, 1996
ISBN 10: 079239755X ISBN 13: 9780792397557
New Hardcover

Seller: Lucky's Textbooks, Dallas, TX, U.S.A.

Seller rating 5 out of 5 stars 5-star rating, Learn more about seller ratings

Condition: New. Seller Inventory # ABLIING23Feb2416190186170

Contact seller

Buy New

£ 136.69
Convert currency
Shipping: £ 2.95
Within U.S.A.
Destination, rates & speeds

Quantity: Over 20 available

Add to basket

Stock Image

Suresh P. Sethi
Published by Springer, 1996
ISBN 10: 079239755X ISBN 13: 9780792397557
New Hardcover

Seller: Ria Christie Collections, Uxbridge, United Kingdom

Seller rating 5 out of 5 stars 5-star rating, Learn more about seller ratings

Condition: New. In. Seller Inventory # ria9780792397557_new

Contact seller

Buy New

£ 139.22
Convert currency
Shipping: £ 11.98
From United Kingdom to U.S.A.
Destination, rates & speeds

Quantity: Over 20 available

Add to basket

Stock Image

Suresh P. Sethi
Published by Springer, 1996
ISBN 10: 079239755X ISBN 13: 9780792397557
New Hardcover

Seller: California Books, Miami, FL, U.S.A.

Seller rating 5 out of 5 stars 5-star rating, Learn more about seller ratings

Condition: New. Seller Inventory # I-9780792397557

Contact seller

Buy New

£ 154.04
Convert currency
Shipping: FREE
Within U.S.A.
Destination, rates & speeds

Quantity: Over 20 available

Add to basket

Seller Image

Suresh P. Sethi
Published by Springer US, 1996
ISBN 10: 079239755X ISBN 13: 9780792397557
New Hardcover

Seller: moluna, Greven, Germany

Seller rating 5 out of 5 stars 5-star rating, Learn more about seller ratings

Gebunden. Condition: New. Seller Inventory # 5971702

Contact seller

Buy New

£ 121.69
Convert currency
Shipping: £ 42.51
From Germany to U.S.A.
Destination, rates & speeds

Quantity: Over 20 available

Add to basket

Seller Image

Suresh P. Sethi
ISBN 10: 079239755X ISBN 13: 9780792397557
New Hardcover
Print on Demand

Seller: buchversandmimpf2000, Emtmannsberg, BAYE, Germany

Seller rating 5 out of 5 stars 5-star rating, Learn more about seller ratings

Buch. Condition: Neu. This item is printed on demand - Print on Demand Titel. Neuware -This book presents papers on continuous-time consumption investment models by Suresh Sethi and various co-authors. Sir Isaac Newton said that he saw so far because he stood on the shoulders of gi ants. Giants upon whose shoulders Professor Sethi and colleagues stand are Robert Merton, particularly Merton's (1969, 1971, 1973) seminal papers, and Paul Samuelson, particularly Samuelson (1969). Karatzas, Lehoczky, Sethi and Shreve (1986), henceforth KLSS, re produced here as Chapter 2, reexamine the model proposed by Mer ton. KLSS use methods of modern mathematical analysis, taking care to prove the existence of integrals, check the existence and (where appro priate) the uniqueness of solutions to equations, etc. KLSS find that un der some conditions Merton's solution is correct; under others, it is not. In particular, Merton's solution for aHARA utility-of-consumption is correct for some parameter values and not for others. The problem with Merton's solution is that it sometimes violates the constraints against negative wealth and negative consumption stated in Merton (1969) and presumably applicable in Merton (1971 and 1973). This not only affects the solution at the zero-wealth, zero-consumption boundaries, but else where as well. Problems with Merton's solution are analyzed in Sethi and Taksar (1992), reproduced here as Chapter 3.Springer Verlag GmbH, Tiergartenstr. 17, 69121 Heidelberg 452 pp. Englisch. Seller Inventory # 9780792397557

Contact seller

Buy New

£ 143.43
Convert currency
Shipping: £ 52.06
From Germany to U.S.A.
Destination, rates & speeds

Quantity: 1 available

Add to basket

There are 3 more copies of this book

View all search results for this book