Instruct: Identify the main and secondary category of Arxiv papers based on the titles and abstracts
Query: Optimal Asset Liquidation with Multiplicative Transient Price Impact   We study a multiplicative transient price impact model for an illiquid
financial market, where trading causes price impact which is multiplicative in
relation to the current price, transient over time with finite rate of
resilience, and non-linear in the order size. We construct explicit solutions
for the optimal control and the value function of singular optimal control
problems to maximize expected discounted proceeds from liquidating a given
asset position. A free boundary problem, describing the optimal control, is
solved for two variants of the problem where admissible controls are monotone
or of bounded variation.

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The categories of this paper are: cond-mat
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The categories of this paper are: chem-ph
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The categories of this paper are: stat
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The categories of this paper are: nucl-ex
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The categories of this paper are: adap-org
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The categories of this paper are: funct-an
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The categories of this paper are: gr-qc
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The categories of this paper are: nlin
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The categories of this paper are: econ
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The categories of this paper are: eess
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The categories of this paper are: quant-ph
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The categories of this paper are: acc-phys
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The categories of this paper are: ao-sci
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The categories of this paper are: plasm-ph
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The categories of this paper are: math-ph
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The categories of this paper are: physics