Habits and Time Preference
Habits and Time Preference
复制标题
习惯和时间偏好
DOI：
10.2307/2526950
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发表时间：
1993
影响因子：
1.5
通讯作者：
Larry G. Epstein
中科院分区：
文献类型：
--
作者：
Shouyong Shi;Larry G. Epstein
本文提出了一个结合习惯形成和内生时间偏好率的效用函数，其方式与欧文·费希尔关于过去消费对不耐烦的影响的直觉一致。结果表明，新的规范是易于处理的，并在三种模型经济体的背景下产生新的预测：（1）具有异质主体的封闭经济体，（2）具有一种贸易品和一种非贸易品的小型开放经济体，以及（3）具有贸易品和国内货币的小型开放经济体。版权所有 1993 宾夕法尼亚大学经济系和大阪大学社会经济研究所。
This paper proposes a utility function incorporating both habit formation and an endogenous rate of time preference in a manner consistent with the intuition of Irving Fisher regarding the influence of past consumption on impatience. It is shown that the ne w specification is tractable and generates new predictions in the cont ext of three model economies: (1) a closed economy with heterogeneous agents, (2) a small open economy with one traded good and one nontra ded good, and (3) a small open economy with a traded good and domestic money. Copyright 1993 by Economics Department of the University of Pennsylvania and the Osaka University Institute of Social and Economic Research Association.