Life Insurance Completeness: A Path to Hedging Mortality and Achieving Financial Optimization
This paper explores optimal consumption and investment strategies for agents facing mortality risk within a complete financial market. Departing from traditional frameworks, we leverage state-dependent utility theory, discounted by the state–price process, to compare consumption streams and utilize...
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| Main Author: | |
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| Format: | Article |
| Language: | English |
| Published: |
MDPI AG
2025-05-01
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| Series: | Risks |
| Subjects: | |
| Online Access: | https://www.mdpi.com/2227-9091/13/5/88 |
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