The Markov consumption problem

DOI10.1016/J.JMATECO.2011.04.001MaRDI QIDQ2427839zbMATH OpenOpenAlexFDO

Authors Michael Sattinger

Publication date 18 April 2012

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

Full work available at URL https://doi.org/10.1016/j.jmateco.2011.04.001

zbMATH Keywords

Markov processoptimal controlunemploymentconsumptionad hoc debt limit

Mathematics Subject Classification ID

Utility theory (91B16) Consumer behavior, demand theory (91B42) Existence of optimal solutions to problems involving randomness (49J55)

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Cited in

(6)

• Adaptive consumption behavior
• Consumption, Liquidity Constraints and Asset Accumulation in the Presence of Random Income Fluctuations
• On uniqueness of time-consistent Markov policies for quasi-hyperbolic consumers under uncertainty
• Unemployment and the smoothness of consumption in business cycle models
• Individual learning about consumption
• The consumption-wealth ratio under asymmetric adjustment

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