[Vortraege] Vortragsankündigungen, KW. 50 - Ergänzung Seminar Finanzmath. 13.12.12

[Danijela Radosavljevic]

Sehr geehrte Fakultätsmitglieder,

anbei ein Nachtrag , der Vortragsankündigungen für diese Woche.

Mit freundlichen Grüßen

Danijela Radosavljevic

*Donnerstag, 13. Dezember 2012, von 17:00 Uhr bis 18:30 Uhr, Seminarraum 
D 101, UZA 4*

*Vortrag im Rahmen des Seminars Finanzmathematik *

*Paolo Guasoni: Loss Aversion and Retirement Planning *

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/Abstract: We solve a model of consumption and investment for an agent 
who is averse to declines
  in the standard of living, assuming constant investment opportunities 
and an infinite horizon.
The optimal policy is to consume at a constant rate, as long as this 
rate remains between two
endogenous fractions of wealth. In good times, consumption rises to keep 
the consumption/wealth ratio above a minimum level.
  In bad times, consumption declines below the desired level, as to keep 
the portfolio solvent. Loss aversion reduces substantially
the exposure to risky assets, implying an effective risk aversion much 
higher than the agent's true risk aversion./

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*Link **http://www.mat.univie.ac.at/~finance_hp/seminarWS12.html* 
<http://www.mat.univie.ac.at/%7Efinance_hp/seminarWS12.html>


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