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Saving and dissaving under Ramsey–Rawls criterion

Author

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  • Ha-Huy, Thai
  • Nguyen, Thi Tuyet Mai

Abstract

This article studies an inter-temporal optimization problem under a criterion that is a combination of Ramsey’s and Rawls’s criteria. A detailed description of the saving behavior through time is provided. The optimization problem under the α-maximin criterion is also considered, and the optimal solution is characterized.

Suggested Citation

  • Ha-Huy, Thai & Nguyen, Thi Tuyet Mai, 2022. "Saving and dissaving under Ramsey–Rawls criterion," Journal of Mathematical Economics, Elsevier, vol. 103(C).
    • Handle: RePEc:eee:mateco:v:103:y:2022:i:c:s0304406822001094
    DOI: 10.1016/j.jmateco.2022.102783
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    More about this item

    Keywords

    Rawls criterion; Ramsey criterion; ϵ-contamination; Maximin principle; α-MaxMin;
    All these keywords.

    JEL classification:

    • C60 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - General
    • C61 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Optimization Techniques; Programming Models; Dynamic Analysis
    • D11 - Microeconomics - - Household Behavior - - - Consumer Economics: Theory
    • D90 - Microeconomics - - Micro-Based Behavioral Economics - - - General

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