An incomplete equilibrium with a stochastic annuity
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DOI: 10.1007/s00780-020-00415-6
Abstract: We prove the global existence of an incomplete, continuous-time finite-agent Radner equilibrium in which exponential agents optimise their expected utility over both running consumption and terminal wealth. The market consists of a traded annuity, and… read more here.
Keywords: annuity; equilibrium; finance; stochastic annuity ... See more keywords
A Note on the Linear and Annuity Class of Depreciation Methods
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DOI: 10.1016/j.ijpe.2018.05.004
Abstract: The following four elementary depreciation methods are often mentioned together in the literature: Nominal linear, real linear, nominal annuity, and real annuity. All four are shown to be special cases of one generic formula. For… read more here.
Keywords: annuity; depreciation methods; depreciation; annuity class ... See more keywords