HEIJDRA BEN J.; ROMP WARD E. - CESifo GmbH <München> - 2007
utility function for an agent born at
time v (v ≤ t) is written as:
Λ(v,t) ≡ eM(u)
integraldisplay ∞
t
[U(¯c(v,τ))−I(τ −v … fraction, SF(u) = e−M(u)
Figure 3: Reduced Adult Mortality
neous mortality rate as m(s,ψm), where ψm is a shift parameter.15 In …