Risk adjusted interest rate (RADR) method and certainty equivalent (CE) method are the two
popular methods used under risky conditions in the investment analysis. However, it should …

Financial decision-making under uncertainty is a critical challenge for both investors and
businesses. Traditional financial models typically assume that future cash flows and …

Using a lifecycle framework with Epstein-Zin (1989) utility and a mixed-integer optimization
approach, we compute the optimal age to claim Social Security benefits. Taking advantage …

In this study, we test an investor's market behavior using probability functions. Furthermore,
by establishing a consistent mean-variance model based on compound independent …