English (United Kingdom)

https://curated-unify.zendy.io/wp-json/zendy-region/v1/featured_content/oa?rat=en

https://curated-unify.zendy.io/wp-json/zendy-region/v1/highlighted_journal/

Global: Zendy Tools annual

Presents the keyphrase highlighting as premium feature

Keyphrase Highlighting

Presents the summarisation as premium feature

Summarisation

Insights

Presents the pdf analysis as premium feature

PDF Analysis

Presents the zaia usage as premium feature

ZAIA

Global: Zendy Tools monthly

Global: Zendy Plus monthly

Presents the access of premium content as premium feature

Premium Content

Global: Zendy Plus annual

Global: Zendy Free Plan

We show that the mutual fund theorems of Merton (1971) extend to the problemof optimal investment to minimize the probability of lifetime ruin. We obtaintwo such theorems by considering a financial market both with and without ariskless asset for random consumption. The striking result is that we obtaintwo-fund theorems despite the additional source of randomness from consumption.

Mutual Fund Theorems when Minimizing the Probability of Lifetime Ruin