A utility maximisation problem on multiple time scales (Q2429741)
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| Language | Label | Description | Also known as |
|---|---|---|---|
| English | A utility maximisation problem on multiple time scales |
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A utility maximisation problem on multiple time scales (English)
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1 April 2011
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Summary: We present a technique for a dynamic optimisation problem in which the value function and constraints can be on different time scales. Using this technique we solve a perfect-foresight utility maximisation problem for a finitely-lived consumer while making very general assumptions about timing of consumption and investing decisions.
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calculus of variations
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time scales
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delta derivative
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dynamic models
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optimisation
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