不确定终止时间的多阶段投资消费模型研究.pdf

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8、portionoftransactioncosts.Toestablishamodelofexpecteddiscountedutilitymaximizationfromterminalwealthandconsumption.Assumingattthewealthofallthefundstobanks,weusedualmethodsandvariationalinequalitytheory,obtaintheoptimalconsumptionstrategyˆc(t)andtheopt

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