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.
Corrado, L., Holly, S. (2011). Multiplicative habit formation and consumption: a note. ECONOMICS LETTERS, 113(2), 116-119 [10.1016/j.econlet.2011.06.002].
Multiplicative habit formation and consumption: a note
CORRADO, LUISA;
2011-06-01
Abstract
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.File in questo prodotto:
| File | Dimensione | Formato | |
|---|---|---|---|
|
ECOLET2011.pdf
solo utenti autorizzati
Descrizione: Articolo principale
Licenza:
Copyright dell'editore
Dimensione
363.46 kB
Formato
Adobe PDF
|
363.46 kB | Adobe PDF | Visualizza/Apri Richiedi una copia |
I documenti in IRIS sono protetti da copyright e tutti i diritti sono riservati, salvo diversa indicazione.
