Non-time additive utility optimization: The case of certainty

We study the intertemporal utility maximization problem for Hindy-Huang-Kreps utilities. Necessary and sufficient conditions for optimality are given. An explicit solution is provided for a large class of utility functions. In particular, the case of separable power utilities with a finite time horizon is solved explicitly.

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Year of publication:	1998
Authors:	Riedel, Frank ; Bank, Peter
Publisher:	Berlin : Humboldt University of Berlin, Interdisciplinary Research Project 373: Quantification and Simulation of Economic Processes
Subject:	non-time additive utility optimization \| intertemporal utility

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Series:	SFB 373 Discussion Paper ; 1998,108
Type of publication:	Book / Working Paper
Type of publication (narrower categories):	Working Paper
Language:	English
Other identifiers:	72205761X [GVK] hdl:10419/61261 [Handle] RePEc:zbw:sfb373:1998108 [RePEc]
Classification:	D91 - Intertemporal Consumer Choice; Life Cycle Models and Saving
Source:	EconStor

Persistent link: https://www.econbiz.de/10010309873