文章基本信息

标题：Average consumer decisions in an economy with heterogeneous subjective discount rates and risk aversion coefficients: the finite horizon case
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作者：Alfredo Omar Palafox-Roca ; Francisco Venegas-martínez
期刊名称：Economics Bulletin
电子版ISSN：1545-2921
出版年度：2014
卷号：34
期号：2
出版社：Economics Bulletin
摘要：This paper aims to study the behavior of the average rational consumer of an economy populated by heterogeneous agents in a finite horizon framework. Heterogeneity takes into account both the subjective discount rate and risk aversion coefficient. Closed-form solutions for the optimal paths of consumption and capital, of the average consumer, are derived. Moreover, a closed form solution for the economic welfare of the average consumer is obtained.
关键词：Heterogeneous preferences ; subjective discount rate ; risk aversion coefficient ; consumption decisions ; average consumer