Sequence and longevity risks of South Korean retirees: Insights and potential remedies

Ko, Hyungjin; Lee, Seungyun; Lee, Jaewook

doi:10.1016/j.pacfin.2024.102263

Pacific-Basin Finance Journal

2024

DOI: 10.1016/j.pacfin.2024.102263

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Sequence and longevity risks of South Korean retirees: Insights and potential remedies

Hyungjin Ko,

Seungyun Lee,

Jaewook Lee

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2024

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Cited by 4 publications

References 16 publications

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Modeling Asset Price Process: An Approach for Imaging Price Chart with Generative Diffusion Models

Park,

Ko,

Lee

2024

Comput Econ

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Artificial Intelligence (AI) models have been recently studied to discover data patterns for prediction and forecasting tasks in finance. However, the use of deep generative models in finance remains relatively unexplored. In this paper, we investigate the potential of deep generative diffusion models to estimate unknown dynamics using multiple simulations based on stock chart images. We first demonstrate a novel pre-processing framework and synthetic image generation using opening, high, low, and closing stock chart images to train neural networks. Without assuming the specific process as the underlying asset price process, we can generate synthetic data without predetermined assumptions of the underlying movements of stock prices by trained generative diffusion models. The experimental results demonstrate that the proposed method successfully replicates well-known asset price processes. With various simulation paths, we can also accurately estimate option pricing on the S &P 500. We conclude that financial simulation with AI can be a novel approach to financial decision-making.

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Modeling Asset Price Process: An Approach for Imaging Price Chart with Generative Diffusion Models

Park,

Ko,

Lee

2024

Comput Econ

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Can ChatGPT improve investment decisions? From a portfolio management perspective

Ko,

Lee

2024

Finance Research Letters

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Influence and predictive power of sentiment: Evidence from the lithium market

Jeong,

Park,

Lee

et al. 2024

Finance Research Letters

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Sequence and longevity risks of South Korean retirees: Insights and potential remedies

Cited by 4 publications

References 16 publications

Modeling Asset Price Process: An Approach for Imaging Price Chart with Generative Diffusion Models

Modeling Asset Price Process: An Approach for Imaging Price Chart with Generative Diffusion Models

Can ChatGPT improve investment decisions? From a portfolio management perspective

Influence and predictive power of sentiment: Evidence from the lithium market

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