Titlebook: Notes on Consumption Theory; Deterministic and St Giuseppe Travaglini,Giorgio Calcagnini,Alessandro Textbook 2024 The Editor(s) (if applic

修正案

Giuseppe Travaglini,Giorgio Calcagnini,Alessandro Bellocchit has therefore been a long time in the making and, needless to say, I in­ curred many an intellectual debt during this period which I would like to acknowledge here. My thanks go first to Professor J. R. Wilson, who super­ vised my Masters thesis and who read part of this manuscript in draft, to th

orthodox

,Consumption and Certainty,poral budget constraint. The saving decision becomes consumption in the next period, then investment and future production. We explain the meaning of the optimal condition, known as the Euler equation, and consider the role of the interest rate in consumption decisions. Next, we extend the model to

有限

,Consumption and Uncertainty in Discrete Time,n, we obtain the well-known result that the level of consumption follows a random walk. When asset returns are uncertain, we show that the allocation of savings among different risky assets depends on the utility function and probability distribution of returns. We then introduce the concept of risk

惊奇

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尽管

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Classroom Companion: Economicshttp://image.papertrans.cn/n/image/668248.jpg

雄辩

badinage

Giuseppe Travaglini,Giorgio Calcagnini,Alessandro Presents a compact and formalized overview of dynamic models in consumption theory.Offers stylized facts and examples to support the results.Provides exercises to guide the reader in their studies

Obloquy

978-3-031-54988-5The Editor(s) (if applicable) and The Author(s), under exclusive license to Springer Nature Switzerl