Research in Financial and Health Risk Management Decisions Planning for retirement involves making several important decisions. This project focuses on financial decisions prior to and after retirement that improve an individual's well-being. Specific decision problems are formulated to address saving, investment, consumption and health-care financing decisions. Models are developed to capture the decision-maker's preferences, where we do not restrict to normative models. The goal of this project is to develop decision-support system, that are prescriptive where necessary. Models are also developed for the uncertainties in the problem.

Publications:

• Gupta, A., Murray, W., A Framework Algorithm to Compute Optimal Asset Allocation for Retirement with Behavioral Utilities, Computational Optimization and Applications, Vol. 31, pp.1-23, 2005. PDF
  
  
• Gupta, A., Murray, W., How to Spend and Invest Retirement Savings, Annals of Operational Research, Vol. 124(1), pp. 205-224, 2003. PDF
  
  
• Gupta, A., Adachi, J.A., Simulation-based Parametric Optimization for Long-term Asset Allocation using Behavioral Utilities, Journal of Applied Mathematical Modeling, Vol. 29(4) April 2005, pp. 309-320. Abstract
  
  
• Gupta, A., Li, L., A Modeling Framework for Optimal Long-term Care Insurance Purchase Decisions in Retirement Planning, Journal of Health Care Management Science, Vol. 7(2), May 2004. Abstract
  
  
• Gupta, A., Yang, Y., Ordinary Rationality and Turning Points in Retirement Planning, Proceedings of Joint International Conference on Cognitive Science, 2003. Abstract
  
  
• Gupta, A., Li, L., Behavioral Modeling in Optimal Investment-Consumption Decisions for Long-term Financial Planning, Proceedings of The Third International Workshop on Computational Intelligence in Economics and Finance (CIEF), 2003. Abstract
  
  
• Gupta, A., Li, L., Integrating Long-term Care Insurance Purchase Decision with Saving and Investment for Retirement, , under review, 2005. Abstract
  
  
• Gupta, A. and Li, Z., Calibration of a Stochastic Health Evolution Model for Optimal Healthcare Financing Decisions using NHIS Data, under review, 2005. Abstract
  
  
• Gupta, A. and Li, Z., Integrating Optimal Annuity Planning with Consumption-Investment Selections, under review, 2006. Abstract

Talks:

• Gupta, A., Murray, W., Optimal asset-allocation using behavioral utilities: planning for acquiring and consuming retirement savings, INFORMS Spring Meeting 2000, Salt Lake City, Utah
  
  
• Li, L., Gupta, A., Optimal Long-term Care Financial Decisions towards Improved Retirement Planning, 2002 INFORMS San Jose Meeting
  
  
• Yang, Y., Gupta, A., Turning Point Effects in Long-term Financial Planning, Joint International Conference on Cognitive Science, 2003, Sydney, Australia
  
  
• Li, L., Gupta, A., Behavioral Modeling in Optimal Investment-Consumption Decisions for Long-term Financial Planning, The Third International Workshop on Computational Intelligence in Economics and Finance (CIEF), 2003, Cary, NC
  
  
• Gupta, A., Li, L., Integrated Healthcare Financing and Investment Decisions for Retirement Planning, Invited Talk, INFORMS Annual Meeting, 2003, Atlanta, GA
  
  
• Gupta, A., Li, L., Integrating Long-term Care Insurance Purchase Decision with Saving and Investment for Retirement, CORS-INFORMS Meeting, Banff, Alberta, May 2004,
  
  Invited Talk, INFORMS Annual Meeting, Denver, October 2004
  
  
• Li, L. Gupta, A., Behavioral Modeling in Optimal Investment-Consumption Decisions for Long-term Financial Planning, INFORMS Annual Meeting . Student Paper competition, Denver, October 2004.
  
  Southern Finance Association Annual Meeting, Naples, FL, November 2004.
  
  
• Gupta, A., Li, Z., Calibration of Individual Health Evolution Model for Long-term Care Financing Decisions, IFORS, Hawaii, July 2005.
  
  Invited Talk, INFORMS Annual Meeting, San Francisco, November 2005
  
  

Last modified: Fri Jun 30 00:56:23 EDT 2006