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Utility functions, future consumption targets and subsistence thresholds

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Author Info
Brishti Guha () (School of Economics, Singapore Management University)
Ashok S. Guha () (Indian Statistical Institute, India)
Abstract

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.

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File URL: https://mercury.smu.edu.sg/rsrchpubupload/13990/Utilityfunctions.pdf
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Paper provided by Singapore Management University, School of Economics in its series Working Papers with number 16-2008.

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Length: 4 pages
Date of creation: Oct 2008
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Publication status: Published in SMU Economics and Statistics Working Paper Series
Handle: RePEc:siu:wpaper:16-2008

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References listed on IDEAS
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  1. Christopher D. Carroll, 2004. "Theoretical Foundations of Buffer Stock Saving," Economics Working Paper Archive 517, The Johns Hopkins University,Department of Economics. [Downloadable!]
    Other versions:
  2. Ben-David, Dan, 1998. "Convergence clubs and subsistence economies," Journal of Development Economics, Elsevier, vol. 55(1), pages 155-171, February. [Downloadable!] (restricted)
    Other versions:
  3. Dasgupta, Partha, 1997. "Nutritional status, the capacity for work, and poverty traps," Journal of Econometrics, Elsevier, vol. 77(1), pages 5-37, March. [Downloadable!] (restricted)
  4. Sharif, Mohammed, 1986. "The Concept and measurement of subsistence: A survey of the literature," World Development, Elsevier, vol. 14(5), pages 555-577, May. [Downloadable!] (restricted)
  5. Steger, Thomas M., 2000. "Economic growth with subsistence consumption," Journal of Development Economics, Elsevier, vol. 62(2), pages 343-361, August. [Downloadable!] (restricted)
  6. Edmundson, W C & Sukhatme, P V, 1990. "Food and Work: Poverty and Hunger?," Economic Development and Cultural Change, University of Chicago Press, vol. 38(2), pages 263-80, January.
  7. Andrew A. Samwick, 1998. "Tax Reform and Target Savings," NBER Working Papers 6640, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
  8. Ashok S. Guha & Brishti Guha, 2008. "Target Saving In An Overlapping Generations Model," Working Papers 01-2008, Singapore Management University, School of Economics. [Downloadable!]
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