Please use this identifier to cite or link to this item:
http://hdl.handle.net/20.500.11861/4338
DC Field | Value | Language |
---|---|---|
dc.contributor.author | Prof. YEUNG Wing Kay, David | en_US |
dc.date.accessioned | 2017-08-14T02:34:14Z | - |
dc.date.available | 2017-08-14T02:34:14Z | - |
dc.date.issued | 2014 | - |
dc.identifier.citation | Applied Mathematical Sciences, 2014, vol. 8(147), pp. 7311-7340. | en_US |
dc.identifier.uri | http://hdl.handle.net/20.500.11861/4338 | - |
dc.description | Online Access | en_US |
dc.description.abstract | This paper extends Slutsky's classic work on consumer theory to a random horizon stochastic dynamic framework in which the consumer has an inter-temporal planning horizon with uncertainties in future incomes, preferences and life-span. Utility maximization leading to a set of ordinary wealth-dependent demand functions is performed. A dual problem is set up to derive the wealth compensated demand functions. This represents the first time that wealth-dependent ordinary demand functions and wealth compensated demand functions are obtained under these uncertainties. The corresponding Roy's identity relationships and Slutsky equations in a random horizon stochastic dynamic framework with uncertain preferences are derived. The analysis incorporates realistic characteristics in consumer theory and advances the conventional microeconomic study on consumption to a more realistic optimal control framework. | en_US |
dc.language.iso | en | en_US |
dc.relation.ispartof | Applied Mathematical Sciences | en_US |
dc.title | Random horizon stochastic dynamic Slutsky equation under preference uncertainty | en_US |
dc.type | Peer Reviewed Journal Article | en_US |
dc.identifier.doi | 10.12988/ams.2014.4112 | - |
item.fulltext | No Fulltext | - |
crisitem.author.dept | Department of Economics and Finance | - |
Appears in Collections: | Business Administration - Publication |
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