The Accumulation of Risky Capital: A Sequential Utility Analysis

DOI10.2307/1909322MaRDI QIDQ5331689zbMATH OpenOpenAlexFDO

Authors Edmund S. Phelps

Publication date 1962

Published in Econometrica (Search for Journal in Brave)

Full work available at URL https://doi.org/10.2307/1909322

zbMATH Keywords

operations research

Cited in

(31)

• Stochastic growth with correlated production shocks
• Capital deepening and impatience equivalence in stochastic aggregative growth models
• Sensitivity analysis of optimal growth plans with exogenous capital stocks
• Controlled semi-Markov models - the discounted case
• Capital accumulation and the optimization of renewable resource models
• Capital accumulation in a stochastic decentralized economy
• An income fluctuation problem
• Consumption and saving: models and reality
• A two-stage approach to multi-period allocation of savings among investment plans
• A new look at optimal growth under uncertainty
• On dynamic investment strategies
• Fully polynomial time (,)-approximation schemes for continuous nonlinear newsvendor and continuous stochastic dynamic programs
• Disentangling intertemporal substitution and risk aversion under the expected utility theorem
• Optimal attention and heterogeneous precautionary saving behavior
• Optimal retirement consumption with a stochastic force of mortality
• Almost sure convergence to zero in stochastic growth models
• OPTIMAL CONSUMPTION AND PORTFOLIO DECISIONS WITH PARTIALLY OBSERVED REAL PRICES
• Uncertainty, risk of default and the savings-consumption decision
• Optimal economic growth under uncertainty with time-lags
• Optimal Economic Growth and Uncertainty: The No Discounting Case
• DYNAMIC STOCHASTIC GAMES OF RESOURCE ALLOCATION BETWEEN PRODUCTION AND CONSUMPTION
• Efficiency of institutional spending and investment rules
• Dynamic efficiency of conservation of renewable resources under uncertainty.
• Robust comparative statics for the elasticity of intertemporal substitution
• Stochastic growth, conservation of capital and convergence to a positive steady state
• Precautionary risk-reduction and saving decisions: two sides of the same coin?
• Withdrawal success optimization
• Relative risk aversion must be close to 1
• The optimal asset allocation of national insurance funds
• Temporal risk and the nature of induced preferences
• Production, interest, and saving in deterministic economies with additive endowments

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