Showing econ.THShow all
2 papers · 1 filter
econ.TH2019
Optimal Insurance with Limited Commitment in a Finite Horizon
Junkee Jeon, Hyeng Keun Koo, Kyunghyun Park
We study a finite horizon optimal contracting problem of a risk-neutral principal and a risk-averse agent who receives a stochastic income stream when the agent is unable to make c…
econ.TH2018
Duesenberry's Theory of Consumption: Habit, Learning, and Ratcheting
Kyoung Jin Choi, Junkee Jeon, Hyeng Keun Koo
This paper investigates the consumption and risk taking decision of an economic agent with partial irreversibility of consumption decision by formalizing the theory proposed by Due…