Giacinto, Marina Di; Federico, Salvatore; Gozzi, Fausto; … - Collegio Carlo Alberto, Università degli Studi di Torino - 2012
This paper deals with a constrained investment problem for a defined contribution (DC) pension fund where retirees are allowed to defer the purchase of the annuity at some future time after retirement. This problem has already been treated in the unconstrained case in a number of papers. The aim...
