naa a22 4500 510808441 CHVBK 20180411083429.0 cr unu---uuuuu 180411e20130601xx s 000 0 eng 10.1007/s11579-012-0086-1 doi (NATIONALLICENCE)springer-10.1007/s11579-012-0086-1 Hansen Simon Department of Business and Economics, University of Southern Denmark, Campusvej 55, 5230, Odense M, Denmark aut Optimal consumption and investment strategies with partial and private information in a multi-asset setting [Elektronische Daten] [Simon Hansen] Information is crucial for decision makers. The more and the better information one possesses, the more qualified a decision one is able to make. In a framework with partial information about the expected returns of n stocks, the effect of having either non-anticipative or anticipative private information is studied. Optimal consumption and investment strategies for investors exhibiting constant relative risk aversion are derived analytically and an economically intuitive condition for an investor to be indifferent between the two types of private information is given. Moreover, a detailed numerical study including the value of private information is carried out to obtain a better economic understanding of the interplay between partial and private information. One novel result is that intertemporal consumption motives decrease the incentive of an investor to acquire private information. Springer-Verlag, 2012 Optimal consumption nationallicence Optimal investment nationallicence Partial information nationallicence Private information nationallicence Mathematics and Financial Economics Springer-Verlag 7/3(2013-06-01), 305-340 1862-9679 7:3<305 2013 7 11579 https://doi.org/10.1007/s11579-012-0086-1 text/html Onlinezugriff via DOI 1 research-article jats NATIONALLICENCE 856 40 https://doi.org/10.1007/s11579-012-0086-1 text/html Onlinezugriff via DOI NATIONALLICENCE 100 1- Hansen Simon Department of Business and Economics, University of Southern Denmark, Campusvej 55, 5230, Odense M, Denmark aut NATIONALLICENCE 773 0- Mathematics and Financial Economics Springer-Verlag 7/3(2013-06-01), 305-340 1862-9679 7:3<305 2013 7 11579 Metadata rights reserved Springer special CC-BY-NC licence nationallicence BK010053 XK010053 XK010000 NATIONALLICENCE NATIONALLICENCE NL-springer