Infinite horizon allocation with consumption-dependent utility

We consider an economy in which there is an infinite stream of pies, each of size one, one in every period. For each agent, the per-period utility function, which is defined on that period's consumption, is determined by the previous period's consumption. We describe specifications of this model for which no symmetric, efficient, and monotonic way to allocate pies exists.

MoreLess

Year of publication:	2012-10-18
Authors:	Peled, Dan ; Rachmilevitch, Shiran
Institutions:	Department of Economics, University of Haifa
Subject:	Behavioral preferences \| Dynamic models \| Habits

freely available

Full text |

More access options

Check Google Scholar

In German libraries (KVK)

I need help

More details

Extent:	application/pdf
Series:	Working Papers.
Type of publication:	Book / Working Paper
Notes:	Number WP2012/9 1 pages long
Classification:	D01 - Microeconomic Behavior: Underlying Principles ; D03 - Behavioral Economics; Underlying Principles ; D30 - Distribution. General ; D31 - Personal Income, Wealth and Their Distributions ; D63 - Equity, Justice, Inequality, and Other Normative Criteria and Measurement
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10010901500