Utility functions, future consumption targets and subsistence thresholds
Brishti Guha () and
Ashok S. Guha ()
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Ashok S. Guha: Indian Statistical Institute, India
No 16-2008, Working Papers from Singapore Management University, School of Economics
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.
Pages: 4 pages
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Published in SMU Economics and Statistics Working Paper Series
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Journal Article: Utility functions, future consumption targets and subsistence thresholds (2008)
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