Consumption, investment and healthcare with aging
This paper solves the problem of optimal dynamic investment, consumption and healthcare spending with isoelastic utility, when natural mortality grows exponentially to reflect the Gompertz law and investment opportunities are constant. Healthcare slows the natural growth of mortality, indirectly inc...
| Main Authors: | , |
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| Format: | Article |
| Language: | English |
| Published: |
Springer Verlag
2019
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| Subjects: | |
| Online Access: | View Fulltext in Publisher |