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- :: arXiv Optimal Investment, Heterogeneous Consumption and Best Time for Retirement This paper studies an optimal investment and consumption problem with heterogeneous consumption of basic and luxury goods, together with the choice of time for retirement. The utility for luxury goods is not necessarily a concave function. The optimal heterogeneous consumption strategies for a class of non-homothetic utility maximizer are shown to consume only basic goods when the wealth is small, to consume basic goods and make savings when the wealth is intermediate, and to consume small portion in basic goods and large portion in luxury goods when the wealth is large. The optimal retirement policy is shown to be both universal, in the sense that all individuals should retire at the same level of marginal utility that is determined only by income, labor cost, discount factor as well as market parameters, and not universal, in the sense that all individuals can achieve the same marginal utility with different utility and wealth. It is also shown that individuals prefer to retire as time goes by if the marginal labor cost increases faster than that of income. The main tools used in analysing the problem are from PDE and stochastic control theory including viscosity solution, variational inequality and dual transformation.
- :: STAR MOOC 손으로 만지는 VR(가상 현실): 역감 인터페이스 및 렌더링
- :: Phys.org Insights into climate change during origin of dinosaurs The Triassic Period, about 252 to 201 million years ago, was a time of volatile change, particularly during an interval known as the Carnian (about 237 to 227 million years ago). Three dramatic events occurred on Earth: the first dinosaurs appeared, gigantic volcanic eruptions called the Wrangellia large igneous province spewed out greenhouse gasses and the climate suddenly shifted to warmer, more humid conditions that scientists call the Carnian Pluvial Episode (CPE).
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[정책연구] 의료기관의 레지오넬라증 예방관리 실태조사 및 관리전략 개발_재공고