OPTIMAL CONSUMPTION, TRAINING, WORKING TIME, AND LEISURE OVER THE LIFE-CYCLE

被引：1
|
作者：
NOVAK, A
FEICHTINGER, G
机构：
[1] Institute for Econometrics, Operations Research, and Systems Theory, University of Technology, Vienna
来源：
JOURNAL OF OPTIMIZATION THEORY AND APPLICATIONS | 1992年 / 75卷 / 02期
关键词：
OPTIMAL CONTROL; LIFE-CYCLE MODELS; HOPF BIFURCATION THEORY; STABLE LIMIT CYCLES; HUMAN CAPITAL;
D O I：
10.1007/BF00941474
中图分类号：
C93 [管理学]; O22 [运筹学];
学科分类号：
070105 ; 12 ; 1201 ; 1202 ; 120202 ;
摘要：
In this paper, we analyze the joint determination of optimal consumption and allocation of time between learning (accumulation of human capital), working for wages (used for consumption and accumulation of financial capital), and leisure. Using Hopf bifurcation theory, we are able to show that cyclical training, working, leisuring, and consumption are optimal under certain constellations of parameters.
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页码：369 / 388
页数：20
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