Optimum Consumption and Portfolio Rules in a Continuous-Time Model**I would like to thank P. A. Samuelson, R. M. Solow, P. A. Diamond, J. A. Mirrlees, J. A. Flemming, and D. T. Scheffman for their helpful discussions. Of course, all errors are mine. Aid from the National Science Foundation is gratefully acknowledged. An earlier version of the paper was presented at the second World Congress of the Econometric Society, Cambridge, England.-Reference-Cited by-同舟云学术

Optimum Consumption and Portfolio Rules in a Continuous-Time Model**I would like to thank P. A. Samuelson, R. M. Solow, P. A. Diamond, J. A. Mirrlees, J. A. Flemming, and D. T. Scheffman for their helpful discussions. Of course, all errors are mine. Aid from the National Science Foundation is gratefully acknowledged. An earlier version of the paper was presented at the second World Congress of the Econometric Society, Cambridge, England.

Published:1975 Issue: Volume: Page:621-661
ISSN:
Container-title:Stochastic Optimization Models in Finance
language:
Short-container-title:

Author:

MERTON ROBERT C.

Publisher

Elsevier

Reference16 articles.

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2. “The Random Character of Stock Market Prices,”;Cootner,1964

3. “The Theory of Stochastic Processes,”;COX,1968

4. “Dynamic Programming and the Calculus of Variations,”;DREYFUS,1965

5. S. FISCHER, Essays on assets and contingent commodities, Ph.D. Dissertation, Department of Economics, Massachusetts Institute of Technology, August, 1969

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