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  • Search: subject:"random time-horizon utility maximization"
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choice rules 1 investment–consumption problem 1 numéraire-invariance 1 optional measures 1 preferences 1 random time-horizon utility maximization 1
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Kardaras, Constantinos 1
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London School of Economics (LSE) 1
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Numéraire-invariant preferences in financial modeling
Kardaras, Constantinos - London School of Economics (LSE) - 2010
We provide an axiomatic foundation for the representation of numéraire-invariant preferences of economic agents acting in a financial market. In a static environment, the simple axioms turn out to be equivalent to the following choice rule: the agent prefers one outcome over another if and only...
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