2 papers
q-fin.MF2025
Decentralized Annuity: A Quest for the Holy Grail of Lifetime Financial Security
Feng Runhuan, Liang Zongxia, Song Yilun
This paper presents a novel framework for decentralized annuities, aiming to address the limitations of traditional pension systems such as defined contribution (DC) and defined be…
q-fin.MF2021
Optimal Retirement Time and Consumption with the Variation in Habitual Persistence
Lin He, Zongxia Liang, Yilun Song +1
In this paper,we study the individual's optimal retirement time and optimal consumption under habitual persistence. Because the individual feels equally satisfied with a lower habi…