Static Decisions May Be Optimal in a Life Cycle Setting

In a multicommodity life cycle setting with uncertainty and time additive expected utility, this note finds necessary and sufficient conditions on preferences for all but one optimal decision each period to be independent of the future and of uncertainty.

MoreLess

Authors:	Simmons, P
Institutions:	Department of Economics and Related Studies, University of York
Subject:	Multivariate life cycle \| Euler equations

More details

Extent:	application/pdf
Series:	Discussion Papers.
Type of publication:	Book / Working Paper
Language:	English
Classification:	D1 - Household Behavior and Family Economics ; D9 - Intertemporal Choice and Growth ; E2 - Consumption, Saving, Production, Employment, and Investment
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10009318852