Optimal consumption plans with uncertain planning periods

dc.contributor.author	Lahiri, Somdeb
dc.date.accessioned	2010-03-23T06:42:34Z
dc.date.available	2010-03-23T06:42:34Z
dc.date.copyright	1987-10
dc.date.issued	2010-03-23T06:42:34Z
dc.identifier.uri	http://hdl.handle.net/11718/1546
dc.description.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.	en
dc.language.iso	en	en
dc.relation.ispartofseries	WP;1987/706
dc.subject	Finance-consumption	en
dc.subject	economics-utility theory
dc.title	Optimal consumption plans with uncertain planning periods	en
dc.type	Working Paper	en