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| Brishti Guha and Ashok Guha |
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| ''Utility functions, future consumption targets and subsistence thresholds'' |
| ( 2008, Vol. 4 No.30 ) |
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| If the consumer's risk aversion behavior varies intertemporally and if the risk aversion coefficient on future consumption becomes very large, the consumer tends to aim at a fixed future consumption target. A by-product is a reinterpretation of subsistence theories of consumption. |
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| Keywords: |
JEL: D9 - Intertemporal Choice and Growth: General
E2 - Macroeconomics: Consumption, Saving, Production, Employment, and Investment: General (includes Measurement and Data) |
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| Manuscript Received : Oct 04 2008 | | Manuscript Accepted : Nov 02 2008 |
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