Mancino, Lisa (contributor); Kinsey, Jean D. (contributor) - 2008
=Σ
t
u( x
t1
,…,x
tn
, α
t1
,…α
tn
, t),
where U represents total utility experienced at time t, (x
t1
,…,x
tn
) is a … into subsets that infl uence
only a single consumption variable. In the simplest case, each consumption
variable x
i
is … infl uenced by at most one α
I
, and can be represented as follows:
U=Σ
t
u(v
1
(x
t1
, α
t1
, t),…v
n
(x
tn …