In the paper, a one-sector neoclassical model with stochastic growth has been constructed. The key concept of economic maturity is well-defined in the abstract model economy, and also a thorough characterization of the minimum time needed to economic maturity is supplied for the first time....

In the current paper, a dynamically complete financial market with finite and countable heterogeneous investors has been constructed. Self-dynamic game is defined, that is, the investors determine the optimal bankruptcy time first, and then the optimal portfolio policy. Sub-game perfect Nash...

In the current paper, a dynamically complete financial market with finite and countable heterogeneous investors has been constructed. Self-dynamic game is defined, that is, the investors determine the optimal bankruptcy time first, and then the optimal portfolio policy. Sub-game perfect Nash...

In the current paper, a dynamically complete financial market with finite and countable heterogeneous investors has been constructed. Self-dynamic game is defined, that is, the investors determine the optimal bankruptcy time first, and then the optimal portfolio policy. Sub-game perfect Nash...