Consumption paths under prospect utility in an optimal growth model

DOI10.1016/j.jedc.2010.09.002zbMath1232.91499OpenAlexW3121814313MaRDI QIDQ621265

Klaus Reiner Schenk-Hoppé, Reto Foellmi, Rina Rosenblatt-Wisch

Publication date: 2 February 2011

Published in: Journal of Economic Dynamics \& Control (Search for Journal in Brave)

Full work available at URL: https://boris.unibe.ch/145731/

zbMATH Keywords

loss aversionprospect theoryoptimal consumptionRamsey growth model

Mathematics Subject Classification ID

Utility theory (91B16) Economic growth models (91B62)

Related Items (5)

Optimal consumption with reference-dependent preferences in on-the-job search and savings ⋮ Loss aversion, habit formation and the term structures of equity and interest rates ⋮ On history-dependent optimization models: a unified framework to analyze models with habits, satiation and optimal growth ⋮ Optimal incentive contracts under loss aversion and inequity aversion ⋮ Fearing the worst: the importance of uncertainty for inequality

Cites Work

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• Golden Eggs and Hyperbolic Discounting
• Myopic Loss Aversion and the Equity Premium Puzzle
• Ramsey Meets Laibson in the Neoclassical Growth Model
• Habits and Time Preference
• Stationary Ordinal Utility and Impatience
• Optimal Growth with Intertemporally Dependent Preferences

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