3 problems

Optimality conjecture. $C^{Y^*}$ is the optimal consumption plan for the original utility maximization problem.

Kreps' conjecture. Under suitable conditions, the optimal expected utility for the sequence of discrete-time economies converges to the optimal expected utility of the Black–Schole…

Let $U$ be an utility function satisfying the INADA conditions with $U(0+)=0$, let $\mathcal{X}(x)$ be the set of admissible wealth processes with initial capital $x$, and let…