On the concavity of consumption function under habit formation

DOI10.1016/J.JMATECO.2023.102829zbMATH Open1519.91153OpenAlexW4322721709MaRDI QIDQ6100482FDOQ6100482

Authors: Haoyu Liu, Lun Li 

Publication date: 22 June 2023

Published in: Journal of Mathematical Economics (Search for Journal in Brave)

Full work available at URL: https://doi.org/10.1016/j.jmateco.2023.102829

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zbMATH Keywords

concavityhabit formationconsumption functionabsolute risk tolerance

Mathematics Subject Classification ID

PDEs in connection with game theory, economics, social and behavioral sciences (35Q91) Consumer behavior, demand theory (91B42)

Cites Work

• The economics of risk and time
• Horizon length and portfolio risk
• On the Concavity of the Consumption Function
• Representative consumer's risk aversion and efficient risk-sharing rules
• Deep Habits
• The income fluctuation problem and the evolution of wealth
• An impossibility theorem for wealth in heterogeneous-agent models with limited heterogeneity
• On the concavity of the consumption function with the time varying discount rate
• Consumption with liquidity constraints: an analytical characterization
• Necessity of hyperbolic absolute risk aversion for the concavity of consumption functions

Cited In (6)

• On the characterization of linear habit formation
• Title not available (Why is that?)
• Necessity of hyperbolic absolute risk aversion for the concavity of consumption functions
• Optimal consumption dynamics with non-concave habit-forming utility
• On the concavity of the consumption function with the time varying discount rate
• Consumption--leisure choice with habit formation

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