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Models of Subsistence Consumption

In: Dynamic Models and Inequality

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  • Robin Maialeh

    (University of Economics
    Unicorn Research Centre)

Abstract

As was showed in the fourth chapter, the fundamental aspect of agents’ behaviour relates to self-preservation. Despite there are various options how to comprehend self-preservation in economics, we can generally understand it as expending a certain amount of resources in order to reproduce to the next period. This idea closely relates to a range of economic literature that is dedicated to subsistence consumption. The difference between using the term ‘reproduction’ instead of ‘subsistence’ is here rather semantical and it is not meant to be crucial for our further analysis. Nevertheless, in our sketchy understanding, reproduction more directly links to the dynamic processes, while subsistence has rather static connotations. This is potentiated by the fact that for most relevant articles it is common to consider subsistence consumption as constant. Nevertheless, we will use these terms throughout this book interchangeably with a preference to use the term ‘subsistence consumption’, following the practice of the field of study where this book is written.

Suggested Citation

  • Robin Maialeh, 2020. "Models of Subsistence Consumption," Contributions to Economics, in: Dynamic Models and Inequality, chapter 0, pages 83-118, Springer.
    • Handle: RePEc:spr:conchp:978-3-030-46313-7_5
    DOI: 10.1007/978-3-030-46313-7_5
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