Equilibrium Consumption Schedule in a Simple Model of Economic Growth.

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Abstract:

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.

Author(s):
Kohlberg, Elon
Author Organization(s):
HARVARD UNIV CAMBRIDGE MASS
Descriptive Note:
Technical rept.,
Supplementary Note:
Report on Project on Efficiency of Decision Making in Economic Systems.
Pagination:
0022

Security Markings

DOCUMENT & CONTEXTUAL SUMMARY

Distribution:
Approved For Public Release

RECORD

Collection: TR
Identifying Numbers
Report Number(s):
TR-18
Contract/Grant Number(s):
N00014-67-A-0298-0019
Project Number(s):
NR-047-004
 Subject Terms
Communities of Interest:
No COI(s) Identified
Descriptor(s):
*ECONOMIC MODELS, EQUILIBRIUM(GENERAL), CONSUMPTION, THEOREMS
Field(s)/Group(s):
Economics and Cost Analysis
Keyword(s):
Growth models, Utility functions
Report Date:
1975 May 01