具有局部替代的递归偏好的最优消费——确定性的情况

IF 1 4区经济学 Q3 ECONOMICS

Journal of Mathematical Economics Pub Date : 2023-11-29 DOI:10.1016/j.jmateco.2023.102932

Hanwu Li , Frank Riedel , Shuzhen Yang

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引用次数: 0

摘要

我们在具有局部替代的递归跨期效用框架中描述了最优消费政策。我们建立了存在性，唯一性，以及库恩-塔克定理的一个版本。明确地描述了一类大型聚合器的最优消费计划结构。对于Epstein-Zin偏好，解与相应的时间加性偏好解一致。

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Optimal consumption for recursive preferences with local substitution — the case of certainty

We characterize optimal consumption policies in a recursive intertemporal utility framework with local substitution. We establish existence, uniqueness, and a version of the Kuhn–Tucker theorem. The structure of optimal consumption plans is described explicitly for a large class of aggregators. For Epstein-Zin preferences, the solution coincides with the solution of the corresponding time-additive preferences.

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来源期刊

Journal of Mathematical Economics 管理科学-数学跨学科应用

CiteScore

1.70

自引率

7.70%

发文量

审稿时长

12.5 weeks

期刊介绍： The primary objective of the Journal is to provide a forum for work in economic theory which expresses economic ideas using formal mathematical reasoning. For work to add to this primary objective, it is not sufficient that the mathematical reasoning be new and correct. The work must have real economic content. The economic ideas must be interesting and important. These ideas may pertain to any field of economics or any school of economic thought.