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http://hdl.handle.net/11718/1546| Title: | Optimal consumption plans with uncertain planning periods |
| Authors: | Lahiri, Somdeb |
| Keywords: | Finance-consumption;economics-utility theory |
| Issue Date: | 23-Mar-2010 |
| Series/Report no.: | WP;1987/706 |
| Abstract: | In this paper we study the one sector optimal growth model with uncertain planning horizons. We prove the non-existence of steady states, and the dependence of optimal capital stock at time 't' on the conditional probability of a 't' period planning horizon given that the planning process does not terminate before time 't'. We illustrate our results using a consumpiton optimal growth model and cobb-Douglas technology. |
| URI: | http://hdl.handle.net/11718/1546 |
| Appears in Collections: | Working Papers |
Files in This Item:
| File | Description | Size | Format | |
|---|---|---|---|---|
| WP 1987_706.pdf | 118.54 kB | Adobe PDF | View/Open |
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