Habit Formation and Aggregate Consumption

DOI10.2307/2999635MaRDI QIDQ4531064zbMATH OpenOpenAlexFDO

Authors David A. Chapman

Publication date 29 May 2002

Published in Econometrica (Search for Journal in Brave)

Full work available at URL https://doi.org/10.2307/2999635

Mathematics Subject Classification ID

Mathematical economics (91B99)

Cited in

(14)

• Minimal Hellinger martingale measures of order \(q\)
• Non-addictive habits: optimal consumption-portfolio policies.
• Explicit characterizations of financial prices with history-dependent utility
• Consumption and saving with habit formation and durability.
• Loss aversion, habit formation and the term structures of equity and interest rates
• Additive habit formation: consumption in incomplete markets with random endowments
• Optimal DB-PAYGO pension management towards a habitual contribution rate
• Endogenous growth with addictive habits
• Stochastic endogenous time preference
• Optimal asset allocation, consumption and retirement time with the variation in habitual persistence
• Intertemporal asset pricing and the marginal utility of wealth
• Consumption-investment decisions with endogenous reference point and drawdown constraint
• Dynamic optimal adjustment policies of hybrid pension plans under habitual persistence
• Aggregate stock market behavior and investors' low risk aversion

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