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Utility functions, future consumption targets and subsistence thresholds

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  • Ashok Guha

    (SMU)

  • Brishti Guha
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    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.

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    File URL: http://www.eaber.org/node/22431
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    Bibliographic Info

    Paper provided by East Asian Bureau of Economic Research in its series Microeconomics Working Papers with number 22431.

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    Date of creation: Jan 2008
    Date of revision:
    Handle: RePEc:eab:microe:22431

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    Postal: JG Crawford Building #13, Asia Pacific School of Economics and Government, Australian National University, ACT 0200
    Web page: http://www.eaber.org
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    Related research

    Keywords: Intertemporal Consumer Choice; theories of consumption; risk aversion coefficient;

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    References

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    1. Ben-David, Dan, 1997. "Convergence Clubs and Subsistence Economies," CEPR Discussion Papers 1745, C.E.P.R. Discussion Papers.
    2. Andrew A. Samwick, 1998. "Tax Reform and Target Savings," NBER Working Papers 6640, National Bureau of Economic Research, Inc.
    3. Dalgaard, Carl-Johan & Strulik, Holger, 2007. "A Bioeconomic Foundation of the Malthusian Equilibrium: Body Size and Population Size in the Long-Run," Diskussionspapiere der Wirtschaftswissenschaftlichen Fakultät der Leibniz Universität Hannover dp-373, Leibniz Universität Hannover, Wirtschaftswissenschaftliche Fakultät.
    4. Dasgupta, Partha, 1997. "Nutritional status, the capacity for work, and poverty traps," Journal of Econometrics, Elsevier, vol. 77(1), pages 5-37, March.
    5. Steger, Thomas M., 2000. "Economic growth with subsistence consumption," Journal of Development Economics, Elsevier, vol. 62(2), pages 343-361, August.
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