Non-time additive utility optimization--the case of certainty
AbstractWe study the intertemporal utility maximization problem for Hindy- Huang-Kreps utilities. Necessary and sufficient conditions for optimality are given. An explicit solution is provided for a large class of utility functions. In particular, the case of separable power utilities with a finite time horizon is solved explicitly.
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Bibliographic InfoArticle provided by Elsevier in its journal Journal of Mathematical Economics.
Volume (Year): 33 (2000)
Issue (Month): 3 (April)
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Web page: http://www.elsevier.com/locate/jmateco
Other versions of this item:
- Peter Bank & Frank Riedel, 1998. "Non-Time Additive Utility Optimization - the Case of Certainty," GE, Growth, Math methods 9811002, EconWPA.
- Riedel, Frank & Bank, Peter, 1998. "Non-time additive utility optimization: The case of certainty," SFB 373 Discussion Papers 1998,108, Humboldt University of Berlin, Interdisciplinary Research Project 373: Quantification and Simulation of Economic Processes.
- D91 - Microeconomics - - Intertemporal Choice - - - Intertemporal Household Choice; Life Cycle Models and Saving
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