Bian, Baojun; Zheng, Harry - In: Journal of Economic Dynamics and Control 51 (2015) C, pp. 28-49
In this paper we aim to address two questions faced by a long-term investor with a power-type utility at high levels of wealth: one is whether the turnpike property still holds for a general utility that is not necessarily differentiable or strictly concave, the other is whether the error and...
