Satiation and habit persistence (or the Dieter's dilemma) (Q1080344)
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scientific article; zbMATH DE number 3965766
| Language | Label | Description | Also known as |
|---|---|---|---|
| English | Satiation and habit persistence (or the Dieter's dilemma) |
scientific article; zbMATH DE number 3965766 |
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Satiation and habit persistence (or the Dieter's dilemma) (English)
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1986
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Frequently individual consumption varies cyclically over time. In order to model such behavior, we have to generalize the intertemporal utility function so that it depends not only on current consumption but on total previous consumption and on the change in current consumption. Solving the resulting model requires a generalization of the Euler-Lagrange equations.
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intertemporal utility consumption model
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intertemporal utility function
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Euler-Lagrange equations
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