In the paper, we attempt to illustrate a continuous time constrained portfolio and consumption optimization problem within a specific power utility function. We find that the final decision is obviously not dependent on the discount functions, which makes us more surprised. 这篇文章中,我们建立了资产组合在受到约束时的期望效用优化问题,在我们特殊的指数效用函数下,我们发现最终的决策不依赖于具体的贴现函数。
RIM follows the hypothesis of continuous operating, so it has the same disadvantage of income discount methods. 剩余收益遵循企业持续经营的假设,具有收益法固有的缺陷。