Utility functions, future consumption targets and subsistence thresholds

Brishti Guha () and Ashok S. Guha ()
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Brishti Guha: School of Economics, Singapore Management University
Ashok S. Guha: Indian Statistical Institute, India

No 16-2008, Working Papers from Singapore Management University, School of Economics

Abstract: If the consumer’s risk aversion behavior varies intertemporally and if the risk aversion coefficient on future consumption becomes very large, the consumer tends to aim at a fixed future consumption target. A by-product is a reinterpretation of subsistence theories of consumption.

Date: 2008-10
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Published in SMU Economics and Statistics Working Paper Series

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