Equilibrium Consumption Schedule in a Simple Model of Economic Growth.
HARVARD UNIV CAMBRIDGE MASS
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A consumption schedule is a rule that specifies an individuals consumption as a function of his endowment. A consumption schedule is an equilibrium if it is self enforcing by this is meant that each individual, given that all other individuals abide by the rule, will find it to his own best interest to also abide by the rule. Here some properties of equilibrium consumption schedules in a simple model of economic growth are studied.
- Economics and Cost Analysis