4 Two-Period Model: State-Preference Approach

Thorsten Hens and Marc Oliver Rieger
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Thorsten Hens: University of Zurich
Marc Oliver Rieger: University of Trier

A chapter in Solutions to Financial Economics, 2019, pp 15-30 from Springer

Abstract: Abstract Consider a two-period economy with uncertainty in the second period. Consumption is in terms of a single consumer good. In the second period there are S many possible states and every consumer aims to maximize the consumption across states. There are I many consumers with utility functions U i(strictly increasing, concave and continuous). The consumption good has a price π s in each state.

Date: 2019
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DOI: 10.1007/978-3-662-59889-4_4

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