What people are saying - Write a review
We haven't found any reviews in the usual places.
EXTENSIONS OF FISHERS MODEL
AN INVESTMENTCONSUMPTION MODEL WHERE UTILITY DEPENDS
5 other sections not shown
algebra asset levels assumed assumption Baumol and Quandt borrowed or lent borrowing and lending capital budgeting capital income carry-over of funds cash on hand chapter complete certainty constraints consumption function consumption pattern continuous variable current account decision variable decrease defined discrete dynamic programming effective bank balance equation expected value EXTENSIONS OF FISHER'S Frank Ramsey graph Hakansson horizon indifference curve individual's insurance company internal rate Irving Fisher limits on borrowing market interest rate maximize terminal wealth Menahem Yaari models presented Naslund non-capital income stream notation objective function op.cit optimal strategy payments Phelps positive possible futures present worth method probability productive investment productive opportunity locus project q Ramsey Ramsey's random variables rate of consumption rate of interest rate of return realistic return method Rewriting 4.3 risky starting point Telluride Association two-payment model upper limit utility of consumption Weingartner Yaari Yaari's model zero