Yener, Haluk2024-07-182024-07-1820151469-76881469-7696https://doi.org/10.1080/14697688.2014.972435https://hdl.handle.net/11411/7537In this paper, we consider the survival, growth and goal reaching maximization problems treated in Browne [Math. Oper. Res., 1997, 22, 468-493] and solve them in a market constrained due to borrowing prohibition. To solve the problems, we first construct an auxiliary market introduced by Cvitanic and Karatzas [Ann. Appl. Probab., 1992, 2, 767-818] and then apply the dynamic programming approach. Via our solutions, an alternative approach is introduced in order to solve the problems defined under an auxiliary market.eninfo:eu-repo/semantics/closedAccessApplied Mathematical FinanceOptimal PortfoliosDynamic ProgrammingControl And OptimizationBorrowing ConstraintsAuxiliary MarketG11C61Optimal InvestmentTransaction CostsContinuous-TimeConsumptionModelArticle2-s2.0-8494787069810.1080/14697688.2014.972435206512Q1205315Q3WOS:000365286000003