An optimal investment consumption model for retirees with no health insurance

Retirees meet a number of problems as they are growing older which needs persistent attention. Hence, without a doubt, the outcomes of the financial markets influence the choices that people make when nearing retirement. In our model, the stock price dynamics follow Geometric Brownian motion (GBM) a...

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Principais autores:	Nelson Dzupire, John Mutepuwa
Formato:	Artigo
Idioma:	Inglês
Publicado em:	Elsevier 2024-04-01
coleção:	Heliyon
Assuntos:	Stochastic differential equations Hamilton Jacobi Bellman equation Utility function Partial differential equation Bellman's optimality principle Health expenditure
Acesso em linha:	http://www.sciencedirect.com/science/article/pii/S2405844024050655
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