This textbook offers a compact, yet formal, synthesis of the broad field of consumption theory. Written in a coherent and accessible way, this book introduces graduate and postgraduate students to dynamic optimization applied to consumption under certainty and uncertainty, in discrete and...

This paper extends the model of overlapping generations with heterogeneous agents, allowing both classes (capitalist and worker) to hold a positive intergenerational capital stock. The main results were:(i)equilibrium interest rates that maximize the consumption and savings plans of working and...