We study optimal consumption and portfolio choice in a framework where investors adjust
their labor supply through an irreversible choice of their retirement time. We show that …

We study optimal portfolio, consumption‐leisure and retirement choice of an infinitely lived
economic agent whose instantaneous preference is characterized by a constant elasticity of …

Flexible retirement–that is, the opportunity to choose one's own personal retirement age–is a
hedge against pension risk and provides insurance to workers facing health or productivity …

In this paper we propose an approach to investigate a model of consumption and investment
with a mandatory retirement date and early retirement option; we analyze properties of the …

We study a robust consumption-investment problem with retirement and life insurance
decisions for an agent who is concerned about inflation risk and model ambiguity. Assuming …

Chonsei, an exceptional but prevalent housing rental system in the Republic of Korea,
functions as private loans between individuals, and its implicit interest rate is called the …

Consider a robust retirement decision problem for a risk-and ambiguity-averse investor
concerned about return ambiguity in risky asset prices. When the investor aims to maximize …

The purpose of this paper is to study the optimal retirement and consumption/investment
decisions of an infinitely lived agent who does not tolerate any decline in his/her …

In this paper, we study the effects of two labor flexible features, a job switching opportunity
and a retirement option, on the optimal strategies. We assume that the agent's preferences …

The optimal retirement decision is an optimal stopping problem when retirement is
irreversible. We investigate the optimal consumption, investment, and retirement decisions …