کد مقاله کد نشریه سال انتشار مقاله انگلیسی نسخه تمام متن
7368076 1479271 2011 8 صفحه PDF دانلود رایگان
عنوان انگلیسی مقاله ISI
The Markov consumption problem
موضوعات مرتبط
مهندسی و علوم پایه ریاضیات ریاضیات کاربردی
پیش نمایش صفحه اول مقاله
The Markov consumption problem
چکیده انگلیسی
The paper provides a new model of consumption behavior under uncertainty as the solution to a continuous-time dynamic control problem in which an individual moves between employment and unemployment according to a Markov process. Behavior at low asset levels and at break-even points is analyzed. An iterative procedure is developed to derive numerical solutions. The solution takes the form of two curves relating consumption to assets, one for each state of employment.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Journal of Mathematical Economics - Volume 47, Issues 4–5, August–October 2011, Pages 409-416
نویسندگان
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