{"bundle_type":"pith_open_graph_bundle","bundle_version":"1.0","pith_number":"pith:2020:FLDSRW5LV67VNHU37U6LQ4PDVZ","short_pith_number":"pith:FLDSRW5L","canonical_record":{"source":{"id":"2008.00392","kind":"arxiv","version":2},"metadata":{"license":"http://arxiv.org/licenses/nonexclusive-distrib/1.0/","primary_cat":"q-fin.PM","submitted_at":"2020-08-02T03:47:14Z","cross_cats_sorted":["q-fin.RM"],"title_canon_sha256":"674e1a2b44675c5ce58b433daba0ce0907a8ca4f6b67de5f755b718305774251","abstract_canon_sha256":"f072e991ec448d05ce925e39450a524dc791996ced951d5cc31f627723b8c254"},"schema_version":"1.0"},"canonical_sha256":"2ac728dbabafbf569e9bfd3cb871e3ae4f31d7057a8d8805b69ecdbc200e4268","source":{"kind":"arxiv","id":"2008.00392","version":2},"source_aliases":[{"alias_kind":"arxiv","alias_value":"2008.00392","created_at":"2026-07-05T04:30:01Z"},{"alias_kind":"arxiv_version","alias_value":"2008.00392v2","created_at":"2026-07-05T04:30:01Z"},{"alias_kind":"doi","alias_value":"10.48550/arxiv.2008.00392","created_at":"2026-07-05T04:30:01Z"},{"alias_kind":"pith_short_12","alias_value":"FLDSRW5LV67V","created_at":"2026-07-05T04:30:01Z"},{"alias_kind":"pith_short_16","alias_value":"FLDSRW5LV67VNHU3","created_at":"2026-07-05T04:30:01Z"},{"alias_kind":"pith_short_8","alias_value":"FLDSRW5L","created_at":"2026-07-05T04:30:01Z"}],"events":[{"event_type":"record_created","subject_pith_number":"pith:2020:FLDSRW5LV67VNHU37U6LQ4PDVZ","target":"record","payload":{"canonical_record":{"source":{"id":"2008.00392","kind":"arxiv","version":2},"metadata":{"license":"http://arxiv.org/licenses/nonexclusive-distrib/1.0/","primary_cat":"q-fin.PM","submitted_at":"2020-08-02T03:47:14Z","cross_cats_sorted":["q-fin.RM"],"title_canon_sha256":"674e1a2b44675c5ce58b433daba0ce0907a8ca4f6b67de5f755b718305774251","abstract_canon_sha256":"f072e991ec448d05ce925e39450a524dc791996ced951d5cc31f627723b8c254"},"schema_version":"1.0"},"canonical_sha256":"2ac728dbabafbf569e9bfd3cb871e3ae4f31d7057a8d8805b69ecdbc200e4268","receipt":{"kind":"pith_receipt","key_id":"pith-v1-2026-05","algorithm":"ed25519","signed_at":"2026-07-05T04:30:01.866236Z","signature_b64":"jNF/kJECIHKKP+kuMoBsjiFASCfs0OO9Ys811ofAWAM618obY506lNUaAnwUqyK29F9zAAxpfHz9/Iv9+bnPCA==","signed_message":"canonical_sha256_bytes","builder_version":"pith-number-builder-2026-05-17-v1","receipt_version":"0.3","canonical_sha256":"2ac728dbabafbf569e9bfd3cb871e3ae4f31d7057a8d8805b69ecdbc200e4268","last_reissued_at":"2026-07-05T04:30:01.865740Z","signature_status":"signed_v1","first_computed_at":"2026-07-05T04:30:01.865740Z","public_key_fingerprint":"8d4b5ee74e4693bcd1df2446408b0d54"},"source_kind":"arxiv","source_id":"2008.00392","source_version":2,"attestation_state":"computed"},"signer":{"signer_id":"pith.science","signer_type":"pith_registry","key_id":"pith-v1-2026-05","public_key_fingerprint":"8d4b5ee74e4693bcd1df2446408b0d54"},"created_at":"2026-07-05T04:30:01Z","supersedes":[],"prev_event":null,"signature":{"signature_status":"signed_v1","algorithm":"ed25519","key_id":"pith-v1-2026-05","public_key_fingerprint":"8d4b5ee74e4693bcd1df2446408b0d54","signature_b64":"aO4hVvdwpmpk8gSx5kHR/CPIX+zG+Q2O+gHogfsNjx0D6STVrJckYkE6L++gAJA1CLj9HOfkY8Xec6OTbj69AQ==","signed_message":"open_graph_event_sha256_bytes","signed_at":"2026-08-11T16:45:06.657249Z"},"content_sha256":"b52aa88970614420da636766c8ae66b6dd1d3ec2aa6a1bdeb2756eb910618319","schema_version":"1.0","event_id":"sha256:b52aa88970614420da636766c8ae66b6dd1d3ec2aa6a1bdeb2756eb910618319"},{"event_type":"graph_snapshot","subject_pith_number":"pith:2020:FLDSRW5LV67VNHU37U6LQ4PDVZ","target":"graph","payload":{"graph_snapshot":{"paper":{"title":"Optimal Investment, Heterogeneous Consumption and Best Time for Retirement","license":"http://arxiv.org/licenses/nonexclusive-distrib/1.0/","headline":"","cross_cats":["q-fin.RM"],"primary_cat":"q-fin.PM","authors_text":"Harry Zheng, Hyun Jin Jang, Zuo Quan Xu","submitted_at":"2020-08-02T03:47:14Z","abstract_excerpt":"This paper studies an optimal investment and consumption problem with heterogeneous consumption of basic and luxury goods, together with the choice of time for retirement. The utility for luxury goods is not necessarily a concave function. The optimal heterogeneous consumption strategies for a class of non-homothetic utility maximizer are shown to consume only basic goods when the wealth is small, to consume basic goods and make savings when the wealth is intermediate, and to consume almost all in luxury goods when the wealth is large. The optimal retirement policy is shown to be both universa"},"claims":{"count":0,"items":[],"snapshot_sha256":"258153158e38e3291e3d48162225fcdb2d5a3ed65a07baac614ab91432fd4f57"},"source":{"id":"2008.00392","kind":"arxiv","version":2},"verdict":{"id":null,"model_set":{},"created_at":null,"strongest_claim":"","one_line_summary":"","pipeline_version":null,"weakest_assumption":"","pith_extraction_headline":""},"integrity":{"clean":true,"summary":{"advisory":0,"critical":0,"by_detector":{},"informational":0},"endpoint":"/pith/2008.00392/integrity.json","findings":[],"available":true,"detectors_run":[],"snapshot_sha256":"c28c3603d3b5d939e8dc4c7e95fa8dfce3d595e45f758748cecf8e644a296938"},"references":{"count":0,"sample":[],"resolved_work":0,"snapshot_sha256":"258153158e38e3291e3d48162225fcdb2d5a3ed65a07baac614ab91432fd4f57","internal_anchors":0},"formal_canon":{"evidence_count":0,"snapshot_sha256":"258153158e38e3291e3d48162225fcdb2d5a3ed65a07baac614ab91432fd4f57"},"author_claims":{"count":0,"strong_count":0,"snapshot_sha256":"258153158e38e3291e3d48162225fcdb2d5a3ed65a07baac614ab91432fd4f57"},"builder_version":"pith-number-builder-2026-05-17-v1"},"verdict_id":null},"signer":{"signer_id":"pith.science","signer_type":"pith_registry","key_id":"pith-v1-2026-05","public_key_fingerprint":"8d4b5ee74e4693bcd1df2446408b0d54"},"created_at":"2026-07-05T04:30:01Z","supersedes":[],"prev_event":null,"signature":{"signature_status":"signed_v1","algorithm":"ed25519","key_id":"pith-v1-2026-05","public_key_fingerprint":"8d4b5ee74e4693bcd1df2446408b0d54","signature_b64":"QlwggmnAntrBno9Qsf6OmU1UPExE6dzZ+PYi+jnD+NSET1MWM2cD5RjJZjD9hjGJi6EicWbWweonYgPt0JNMBQ==","signed_message":"open_graph_event_sha256_bytes","signed_at":"2026-08-11T16:45:06.657857Z"},"content_sha256":"04d258ec7fa0a3c4f64754a0b9e800480ccea53c8197494fcd6502683a200e5e","schema_version":"1.0","event_id":"sha256:04d258ec7fa0a3c4f64754a0b9e800480ccea53c8197494fcd6502683a200e5e"}],"timestamp_proofs":[],"mirror_hints":[{"mirror_type":"https","name":"Pith Resolver","base_url":"https://pith.science","bundle_url":"https://pith.science/pith/FLDSRW5LV67VNHU37U6LQ4PDVZ/bundle.json","state_url":"https://pith.science/pith/FLDSRW5LV67VNHU37U6LQ4PDVZ/state.json","well_known_bundle_url":"https://pith.science/.well-known/pith/FLDSRW5LV67VNHU37U6LQ4PDVZ/bundle.json","status":"primary"}],"public_keys":[{"key_id":"pith-v1-2026-05","algorithm":"ed25519","format":"raw","public_key_b64":"stVStoiQhXFxp4s2pdzPNoqVNBMojDU/fJ2db5S3CbM=","public_key_hex":"b2d552b68890857171a78b36a5dccf368a953413288c353f7c9d9d6f94b709b3","fingerprint_sha256_b32_first128bits":"RVFV5Z2OI2J3ZUO7ERDEBCYNKS","fingerprint_sha256_hex":"8d4b5ee74e4693bcd1df2446408b0d54","rotates_at":null,"url":"https://pith.science/pith-signing-key.json","notes":"Pith uses this Ed25519 key to sign canonical record SHA-256 digests. Verify with: ed25519_verify(public_key, message=canonical_sha256_bytes, signature=base64decode(signature_b64))."}],"merge_version":"pith-open-graph-merge-v1","built_at":"2026-08-11T16:45:06Z","links":{"resolver":"https://pith.science/pith/FLDSRW5LV67VNHU37U6LQ4PDVZ","bundle":"https://pith.science/pith/FLDSRW5LV67VNHU37U6LQ4PDVZ/bundle.json","state":"https://pith.science/pith/FLDSRW5LV67VNHU37U6LQ4PDVZ/state.json","well_known_bundle":"https://pith.science/.well-known/pith/FLDSRW5LV67VNHU37U6LQ4PDVZ/bundle.json"},"state":{"state_type":"pith_open_graph_state","state_version":"1.0","pith_number":"pith:2020:FLDSRW5LV67VNHU37U6LQ4PDVZ","merge_version":"pith-open-graph-merge-v1","event_count":2,"valid_event_count":2,"invalid_event_count":0,"equivocation_count":0,"current":{"canonical_record":{"metadata":{"abstract_canon_sha256":"f072e991ec448d05ce925e39450a524dc791996ced951d5cc31f627723b8c254","cross_cats_sorted":["q-fin.RM"],"license":"http://arxiv.org/licenses/nonexclusive-distrib/1.0/","primary_cat":"q-fin.PM","submitted_at":"2020-08-02T03:47:14Z","title_canon_sha256":"674e1a2b44675c5ce58b433daba0ce0907a8ca4f6b67de5f755b718305774251"},"schema_version":"1.0","source":{"id":"2008.00392","kind":"arxiv","version":2}},"source_aliases":[{"alias_kind":"arxiv","alias_value":"2008.00392","created_at":"2026-07-05T04:30:01Z"},{"alias_kind":"arxiv_version","alias_value":"2008.00392v2","created_at":"2026-07-05T04:30:01Z"},{"alias_kind":"doi","alias_value":"10.48550/arxiv.2008.00392","created_at":"2026-07-05T04:30:01Z"},{"alias_kind":"pith_short_12","alias_value":"FLDSRW5LV67V","created_at":"2026-07-05T04:30:01Z"},{"alias_kind":"pith_short_16","alias_value":"FLDSRW5LV67VNHU3","created_at":"2026-07-05T04:30:01Z"},{"alias_kind":"pith_short_8","alias_value":"FLDSRW5L","created_at":"2026-07-05T04:30:01Z"}],"graph_snapshots":[{"event_id":"sha256:04d258ec7fa0a3c4f64754a0b9e800480ccea53c8197494fcd6502683a200e5e","target":"graph","created_at":"2026-07-05T04:30:01Z","signer":{"key_id":"pith-v1-2026-05","public_key_fingerprint":"8d4b5ee74e4693bcd1df2446408b0d54","signer_id":"pith.science","signer_type":"pith_registry"},"payload":{"graph_snapshot":{"author_claims":{"count":0,"snapshot_sha256":"258153158e38e3291e3d48162225fcdb2d5a3ed65a07baac614ab91432fd4f57","strong_count":0},"builder_version":"pith-number-builder-2026-05-17-v1","claims":{"count":0,"items":[],"snapshot_sha256":"258153158e38e3291e3d48162225fcdb2d5a3ed65a07baac614ab91432fd4f57"},"formal_canon":{"evidence_count":0,"snapshot_sha256":"258153158e38e3291e3d48162225fcdb2d5a3ed65a07baac614ab91432fd4f57"},"integrity":{"available":true,"clean":true,"detectors_run":[],"endpoint":"/pith/2008.00392/integrity.json","findings":[],"snapshot_sha256":"c28c3603d3b5d939e8dc4c7e95fa8dfce3d595e45f758748cecf8e644a296938","summary":{"advisory":0,"by_detector":{},"critical":0,"informational":0}},"paper":{"abstract_excerpt":"This paper studies an optimal investment and consumption problem with heterogeneous consumption of basic and luxury goods, together with the choice of time for retirement. The utility for luxury goods is not necessarily a concave function. The optimal heterogeneous consumption strategies for a class of non-homothetic utility maximizer are shown to consume only basic goods when the wealth is small, to consume basic goods and make savings when the wealth is intermediate, and to consume almost all in luxury goods when the wealth is large. The optimal retirement policy is shown to be both universa","authors_text":"Harry Zheng, Hyun Jin Jang, Zuo Quan Xu","cross_cats":["q-fin.RM"],"headline":"","license":"http://arxiv.org/licenses/nonexclusive-distrib/1.0/","primary_cat":"q-fin.PM","submitted_at":"2020-08-02T03:47:14Z","title":"Optimal Investment, Heterogeneous Consumption and Best Time for Retirement"},"references":{"count":0,"internal_anchors":0,"resolved_work":0,"sample":[],"snapshot_sha256":"258153158e38e3291e3d48162225fcdb2d5a3ed65a07baac614ab91432fd4f57"},"source":{"id":"2008.00392","kind":"arxiv","version":2},"verdict":{"created_at":null,"id":null,"model_set":{},"one_line_summary":"","pipeline_version":null,"pith_extraction_headline":"","strongest_claim":"","weakest_assumption":""}},"verdict_id":null}}],"author_attestations":[],"timestamp_anchors":[],"storage_attestations":[],"citation_signatures":[],"replication_records":[],"corrections":[],"mirror_hints":[],"record_created":{"event_id":"sha256:b52aa88970614420da636766c8ae66b6dd1d3ec2aa6a1bdeb2756eb910618319","target":"record","created_at":"2026-07-05T04:30:01Z","signer":{"key_id":"pith-v1-2026-05","public_key_fingerprint":"8d4b5ee74e4693bcd1df2446408b0d54","signer_id":"pith.science","signer_type":"pith_registry"},"payload":{"attestation_state":"computed","canonical_record":{"metadata":{"abstract_canon_sha256":"f072e991ec448d05ce925e39450a524dc791996ced951d5cc31f627723b8c254","cross_cats_sorted":["q-fin.RM"],"license":"http://arxiv.org/licenses/nonexclusive-distrib/1.0/","primary_cat":"q-fin.PM","submitted_at":"2020-08-02T03:47:14Z","title_canon_sha256":"674e1a2b44675c5ce58b433daba0ce0907a8ca4f6b67de5f755b718305774251"},"schema_version":"1.0","source":{"id":"2008.00392","kind":"arxiv","version":2}},"canonical_sha256":"2ac728dbabafbf569e9bfd3cb871e3ae4f31d7057a8d8805b69ecdbc200e4268","receipt":{"algorithm":"ed25519","builder_version":"pith-number-builder-2026-05-17-v1","canonical_sha256":"2ac728dbabafbf569e9bfd3cb871e3ae4f31d7057a8d8805b69ecdbc200e4268","first_computed_at":"2026-07-05T04:30:01.865740Z","key_id":"pith-v1-2026-05","kind":"pith_receipt","last_reissued_at":"2026-07-05T04:30:01.865740Z","public_key_fingerprint":"8d4b5ee74e4693bcd1df2446408b0d54","receipt_version":"0.3","signature_b64":"jNF/kJECIHKKP+kuMoBsjiFASCfs0OO9Ys811ofAWAM618obY506lNUaAnwUqyK29F9zAAxpfHz9/Iv9+bnPCA==","signature_status":"signed_v1","signed_at":"2026-07-05T04:30:01.866236Z","signed_message":"canonical_sha256_bytes"},"source_id":"2008.00392","source_kind":"arxiv","source_version":2}}},"equivocations":[],"invalid_events":[],"applied_event_ids":["sha256:b52aa88970614420da636766c8ae66b6dd1d3ec2aa6a1bdeb2756eb910618319","sha256:04d258ec7fa0a3c4f64754a0b9e800480ccea53c8197494fcd6502683a200e5e"],"state_sha256":"7aff7fc46e28994683ed1015525aabb0bdcb3931a0e7825c3f6a9a92b976afdd"},"bundle_signature":{"signature_status":"signed_v1","algorithm":"ed25519","key_id":"pith-v1-2026-05","public_key_fingerprint":"8d4b5ee74e4693bcd1df2446408b0d54","signature_b64":"tlKm4/i41Uy2reHqIb3SjSIzjLesByJjiA6CZrp8+bTSJISD0h5Dx7OpE5RHc57tjuwpXmuwAdpn9sk+9A0nDA==","signed_message":"bundle_sha256_bytes","signed_at":"2026-08-11T16:45:06.662810Z","bundle_sha256":"ac0bd5fbc2e25add2307871c131b7d81a9bb91520a33a09e23dba900a7b4592b"}}