Stochastic dynamic models with stock-dependent rewards
研究当效用同时依赖于消费和股票水平时，随机增长模型中的最优消费与投资政策，给出了保证政策单调性的条件，并刻画了最优过程的极限行为。
We examine the behavior of optimal consumption and investment policies in aggregate stochastic growth models when utility depends on both consumption and the stock level. Such models arise in the study of renewable resources, monetary growth, and growth with public capital. Conditions are given which guarantee that optimal policies are monotonic. The limiting behavior of the optimal consumption, investment, and output processes is characterized.