Optimal strategies for an economic-agent in a continuous time model within social security system
Dissertant
Thesis advisor
University
Birzeit University
Faculty
Faculty of Science
Department
Department of Mathematics
University Country
Palestine (West Bank)
Degree
Master
Degree Date
2018
English Abstract
In this Thesis we introduce a continuous life-time model for an economic-agent whose lifetime is uncertain and who invests his total savings in a financial market composed of one risk-free asset and one risky asset while buying life-insurance to protect his family in case of premature death.
We also assume that this economic-agent contributes in the social security system, which can be private or governmental sector.
This economic-agent is then faced with the problem of finding strategies that maximize the expected utility obtained from consumption, the size of his estate in the event of premature death and the size of his fortune at time of retirement if he lives that long.
We use dynamic programming techniques to derive a second order nonlinear partial differential equation.
Using CRRA utility functions together with the effect of the social security system, we characterize the optimal strategies of consumption, investment and life insurance selection.
Main Subjects
Topics
No. of Pages
61
Table of Contents
Table of contents.
Abstract.
Abstract in Arabic.
Chapter One : Introduction.
Chapter Two : Optimal life-insurance selection and purchase within a mar-ket of several life-insurance providers.
Chapter Three : Optimal strategies for an economic-agent in a continuous time model within social security system.
Conclusion.
References.
American Psychological Association (APA)
Khalil, Sundus. (2018). Optimal strategies for an economic-agent in a continuous time model within social security system. (Master's theses Theses and Dissertations Master). Birzeit University, Palestine (West Bank)
https://search.emarefa.net/detail/BIM-837094
Modern Language Association (MLA)
Khalil, Sundus. Optimal strategies for an economic-agent in a continuous time model within social security system. (Master's theses Theses and Dissertations Master). Birzeit University. (2018).
https://search.emarefa.net/detail/BIM-837094
American Medical Association (AMA)
Khalil, Sundus. (2018). Optimal strategies for an economic-agent in a continuous time model within social security system. (Master's theses Theses and Dissertations Master). Birzeit University, Palestine (West Bank)
https://search.emarefa.net/detail/BIM-837094
Language
English
Data Type
Arab Theses
Record ID
BIM-837094
