Research Article
Portfolio Selection with Liability and Affine Interest Rate in the HARA Utility Framework
Table 3
The optimal policy with liability and constant interest rate.
| ā | HARA utility | Power utility | Exponential utility | Logarithm utility |
| Stock | 26.573 | 26.57 | 0.465984 | 31.8208 | Cash | 73.427 | 73.43 | 99.534 | 68.1792 |
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