I was today years old when I learned of the “Merton Share” framework for investment & spending 💰🧐:
“How Much Happiness Does Money Buy?” [2024], The Economist (https://www.economist.com/christmas-specials/2024/12/19/how-much-happiness-does-money-buy or https://archive.is/P5Cu7).
The original papers by Robert C. Merton:
“Lifetime Portfolio Selection Under Uncertainty: The Continuous-Time Case” [1969, PDF] (https://www.sfu.ca/~kkasa/Merton_69.pdf).
“Optimum Consumption And Portfolio Rules In A Continuous-Time Model” [1971, PDF] (https://www.sfu.ca/~kkasa/Merton_71.pdf).
रञ्जित (Ranjit Mathew)