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Utility functions, future consumption targets and subsistence thresholds

Ashok Guha and Brishti Guha ()
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Ashok Guha: SMU

Microeconomics Working Papers from East Asian Bureau of Economic Research

Abstract: If the consumers 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.

Keywords: Intertemporal Consumer Choice; theories of consumption; risk aversion coefficient (search for similar items in EconPapers)
JEL-codes: D10 D11 D91 (search for similar items in EconPapers)
Date: 2008-01
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