An income fluctuation problem

DOI10.1016/0022-0531(76)90075-2zbMath0352.90004OpenAlexW2047192330MaRDI QIDQ1236057

Jack Schechtman

Publication date: 1976

Published in: Journal of Economic Theory (Search for Journal in Brave)

Full work available at URL: https://doi.org/10.1016/0022-0531(76)90075-2

Mathematics Subject Classification ID

Decision theory (91B06) Applications of mathematical programming (90C90) Stochastic programming (90C15) Utility theory (91B16) Mathematical programming (90C99) Hamilton-Jacobi theories (49L99)

Related Items (19)

Labor income, borrowing constraints, and equilibrium asset prices ⋮ Optimal consumption and savings with stochastic income and recursive utility ⋮ A qualitative approach to Markovian equilibrium on optimal growth under uncertainty ⋮ Ex ante payments in self-enforcing risk-sharing contracts ⋮ On income fluctuations and capital gains ⋮ The income fluctuation problem and the evolution of wealth ⋮ A simple model of optimum life-cycle consumption with earnings uncertainty ⋮ Haircuts, interest rates, and credit cycles ⋮ The wealth distribution in Bewley economies with capital income risk ⋮ The Markov consumption problem ⋮ Capital accumulation and the optimization of renewable resource models ⋮ The welfare cost of inflation under imperfect insurance ⋮ On income fluctuations and capital gains with a convex production function ⋮ Bankruptcy and expected utility maximization ⋮ Random earnings differences, lifetime liquidity constraints, and altruistic intergenerational transfers ⋮ A law of large numbers in the theory of consumer's choice under uncertainty ⋮ The permanent income hypothesis: A theoretical formulation ⋮ Recursive utility and optimal capital accumulation. I: Existence ⋮ Precautionary wealth accumulation: A positive third derivative is not enough

Cites Work

• A law of large numbers in the theory of consumer's choice under uncertainty
• Optimal Consumption with a Stochastic Income Stream
• The Accumulation of Risky Capital: A Sequential Utility Analysis
• Optimal Growth in a Linear-Logarithmic Economy
• Optimal Investment and Consumption Strategies Under Risk for a Class of Utility Functions
• Uncertainty and Optimal Consumption Decisions
• AN EXAMPLE IN THE THEORY OF THE SPECTRUM OF A FUNCTION
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