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Utility functions, future consumption targets and subsistence thresholds

Brishti Guha () and Ashok Guha ()
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Ashok Guha: Indian Statistical Institute, New Delhi

Economics Bulletin, 2008, vol. 4, issue 30, 1-4

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.

JEL-codes: D9 E2 (search for similar items in EconPapers)
Date: 2008-11-02
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