On the concavity of consumption function under habit formation

DOI10.1016/J.JMATECO.2023.102829zbMath1519.91153OpenAlexW4322721709MaRDI QIDQ6100482

Lun Li, Haoyu Liu

Publication date: 22 June 2023

Published in: Journal of Mathematical Economics (Search for Journal in Brave)

Full work available at URL: https://doi.org/10.1016/j.jmateco.2023.102829

zbMATH Keywords

concavityhabit formationconsumption functionabsolute risk tolerance

Mathematics Subject Classification ID

Consumer behavior, demand theory (91B42) PDEs in connection with game theory, economics, social and behavioral sciences (35Q91)

Cites Work

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• Horizon length and portfolio risk
• Consumption with liquidity constraints: an analytical characterization
• On the concavity of the consumption function with the time varying discount rate
• Necessity of hyperbolic absolute risk aversion for the concavity of consumption functions
• The income fluctuation problem and the evolution of wealth
• An impossibility theorem for wealth in heterogeneous-agent models with limited heterogeneity
• Representative consumer's risk aversion and efficient risk-sharing rules
• Deep Habits
• On the Concavity of the Consumption Function

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