Verification theorems for models of optimal consumption and investment with annuitization

One can find it challenging to deal with verification theorems for optimal consumption and investment problems with annuitization. I pose a tractable framework to prove verification theorems for the problems. I revisit an annuitization model of Park (2015) and prove the verification theorem for the...

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Bibliographic Details
Main Author: Seyoung Park
Format: Default Article
Published: 2019
Subjects:
Other economics not elsewhere classified
Annuitization
Existence
Uniqueness
Variational inequality
Economics
Online Access:https://hdl.handle.net/2134/11274167.v1
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