Multiplicative habit formation and consumption: A note

被引：5
|
作者：
Corrado, Luisa [1 ,2 ]
Holly, Sean
机构：
[1] Univ Roma Tor Vergata, Fac Econ, I-00133 Rome, Italy
[2] Univ Cambridge, Fac Econ, CIMF CReMic, Cambridge CB3 9DD, England
来源：
ECONOMICS LETTERS | 2011年 / 113卷 / 02期
关键词：
Habit formation; Multiplicative habits; Consumption;
D O I：
10.1016/j.econlet.2011.06.002
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
A multiplicative form of the habit term in the utility function has some undesirable properties if the habit function is itself still additive (Wendner, 2003). A geometric form for the way the stock of habit accumulates can resolve these shortcomings. (C) 2011 Elsevier B.V. All rights reserved.
引用
收藏
页码：116 / 119
页数：4
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