This paper models the demand for assets and liabilities by a life insurers. As one step toward the implementation of a utility-dependent portfolio methodology, the paper empirically estimates a family ...

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The paper studies the problem of maximizing the expected utility of terminal wealth in the framework of a general incomplete semimartingale model of a financial market. We show that the necessary and ...

Investopedia contributors come from a range of backgrounds, and over 25 years there have been thousands of expert writers and editors who have contributed. In economics, demand is the consumer's ...