We study utility maximization for power utility random fields with and without intermediate consumption in a general semimartingale model with closed portfolio constraints. We show that any optimal ...

Several weeks ago, an article ran in Inside Higher Ed about the interest of many graduate students in jobs that don’t include a lot of pressure to publish. Instead many were interested in jobs that ...

Rationality is usually defined in terms of expected utility maximization. This paper argues for defining it in terms of conditional expected utility maximization by showing this conception's superior ...