Arbeitspapier
Optimal consumption choice for ratchet investors
The utility maximization problem of ratchet investors who do not tolerate any decline in their consumption rate is solved explicitly for all felicity functions in a Markovian framework which includes Brownian motion and Poisson processes as special cases. The optimal consumption plan turns out to be the running maximum of the optimal plan a conventional time-additive investor would choose.
- Sprache
-
Englisch
- Erschienen in
-
Series: SFB 373 Discussion Paper ; No. 2001,92
- Klassifikation
-
Wirtschaft
Micro-Based Behavioral Economics: Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making‡
- Thema
-
Intertemporal Consumption Choice
Habit Formation
Non-Time Separable Utility
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Riedel, Frank
- Ereignis
-
Veröffentlichung
- (wer)
-
Humboldt University of Berlin, Interdisciplinary Research Project 373: Quantification and Simulation of Economic Processes
- (wo)
-
Berlin
- (wann)
-
2001
- Handle
- URN
-
urn:nbn:de:kobv:11-10051094
- Letzte Aktualisierung
-
10.03.2025, 11:42 MEZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Riedel, Frank
- Humboldt University of Berlin, Interdisciplinary Research Project 373: Quantification and Simulation of Economic Processes
Entstanden
- 2001
Ähnliche Objekte (12)
Optimal consumption choice with intolerance for declining standard of living
Optimal consumption and portfolio choice with ambiguity
Optimal consumption choice under uncertainty with intertemporal substitution
Optimal consumption and portfolio choice with ambiguous interest rates and volatility
Untersuchungen zur Struktur von isoliertem Chromatin mit Hilfe der Messung von Viskosität und Sedimentationskoeffizient
Optimal stopping under ambiguity
Optimal Dynamic Choice of Durable and Perishable Goods
Optimal stopping under ambiguity in continuous time
Optimal consumption with intertemporal substitution under knightian uncertainty
The best choice problem under ambiguity
Optimal consumption and Investment under Relative Performance Criteria with Epstein-Zin Utility
Optimal consumption and investment under relative performance citeria with Epstein-Zin utility
Optimal consumption choice with intolerance for declining standard of living
Optimal consumption and portfolio choice with ambiguity
Optimal consumption choice under uncertainty with intertemporal substitution
Optimal consumption and portfolio choice with ambiguous interest rates and volatility
Untersuchungen zur Struktur von isoliertem Chromatin mit Hilfe der Messung von Viskosität und Sedimentationskoeffizient
Optimal stopping under ambiguity
Optimal Dynamic Choice of Durable and Perishable Goods
Optimal stopping under ambiguity in continuous time
Optimal consumption with intertemporal substitution under knightian uncertainty
The best choice problem under ambiguity
Optimal consumption and Investment under Relative Performance Criteria with Epstein-Zin Utility
Optimal consumption and investment under relative performance citeria with Epstein-Zin utility
Optimal consumption choice with intolerance for declining standard of living
Optimal consumption and portfolio choice with ambiguity
Optimal consumption choice under uncertainty with intertemporal substitution
Optimal consumption and portfolio choice with ambiguous interest rates and volatility
Untersuchungen zur Struktur von isoliertem Chromatin mit Hilfe der Messung von Viskosität und Sedimentationskoeffizient
Optimal stopping under ambiguity
Optimal Dynamic Choice of Durable and Perishable Goods
Optimal stopping under ambiguity in continuous time
Optimal consumption with intertemporal substitution under knightian uncertainty
The best choice problem under ambiguity
Optimal consumption and Investment under Relative Performance Criteria with Epstein-Zin Utility