Optimal Consumption Policy under Uncertain Income

DOI10.1287/MNSC.28.6.683MaRDI QIDQ3941139zbMATH OpenOpenAlexFDO

Authors Haim Mendelson, Yakov Amihud

Publication date 1982

Published in Management Science (Search for Journal in Brave)

Full work available at URL https://doi.org/10.1287/mnsc.28.6.683

zbMATH Keywords

consumption behaviorfinite planning horizoninfinite planning horizonsoptimal consumption policyrisk-averse consumeruncertain income stream

Mathematics Subject Classification ID

Group preferences (91B10)

Cited in

(4)

• Precautionary wealth accumulation: A positive third derivative is not enough
• On income fluctuations and capital gains with a convex production function
• The risk-free rate in heterogeneous-agent incomplete-insurance economies
• Utility functions based on net present worth

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