Optimal Investment of Defined Contribution Pension Based on Self-Protection and Minimum Security
نویسندگان
چکیده
This paper mainly studies the optimal investment problem of defined contribution (DC) pension under self-protection and minimum security. First, we apply [see formula in PDF] theorem to obtain differential equation real stock price after discounting inflation. Then, constraint external guarantee DC terminal wealth, is introduced study maximization expected utility wealth at retirement time any before retirement. The explicit solution strategy should be derived by martingale method. Finally, influence on numerically analyzed.
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ژورنال
عنوان ژورنال: Wuhan University Journal of Natural Sciences
سال: 2023
ISSN: ['1007-1202', '1993-4998']
DOI: https://doi.org/10.1051/wujns/2023282129