The effect on optimal consumption on increased uncertainty in labor income in the multiperiod case

DOI10.1016/0022-0531(76)90072-7zbMath0341.90019OpenAlexW2091994575MaRDI QIDQ1231838

Bruce L. Miller

Publication date: 1976

Published in: Journal of Economic Theory (Search for Journal in Brave)

Full work available at URL: https://doi.org/10.1016/0022-0531(76)90072-7

Mathematics Subject Classification ID

Utility theory (91B16) Trade models (91B60)

Related Items (3)

Uniqueness of equilibrium in a Bewley-Aiyagari model ⋮ The structure of optimal consumption streams in general incomplete markets ⋮ Precautionary wealth accumulation: A positive third derivative is not enough

Cites Work

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• Optimum consumption and portfolio rules in a continuous-time model
• Permanent and transitory income effects in a model of optimal consumption with wage income uncertainty
• Dynamic Programming Under Uncertainty with a Quadratic Criterion Function
• A Note on Certainty Equivalence in Dynamic Planning
• A Clarification and a New Proof of the Certainty Equivalence Theorem
• Optimal Consumption with a Stochastic Income Stream
• Discounted Dynamic Programming
• Contraction Mappings in the Theory Underlying Dynamic Programming
• Convex Analysis
• Uncertainty and Optimal Consumption Decisions
• Semi-Markov Decision Processes with Unbounded Rewards
• Discrete Dynamic Programming with Unbounded Rewards

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