Non-time additive utility optimization-the case of certainty

Authors
Bank, P Riedel, F
Citation
P. Bank et F. Riedel, Non-time additive utility optimization-the case of certainty, J MATH ECON, 33(3), 2000, pp. 271-290
Citations number
3
Categorie Soggetti
Economics
Journal title
JOURNAL OF MATHEMATICAL ECONOMICS
ISSN journal
03044068 → ACNP
Volume
33
Issue
3
Year of publication
2000
Pages
271 - 290
Database
ISI
SICI code
0304-4068(200004)33:3<271:NAUOCO>2.0.ZU;2-A
Abstract
We study the intertemporal utility maximization problem for Hindy-Huang-Kre ps utilities. Necessary and sufficient conditions for optimality are given. An explicit solution is provided for a large class of utility functions. I n particular, the case of separable power utilities with a finite time hori zon is solved explicitly. (C) 2000 Elsevier Science S.A. All rights reserve d. JEL classification: D91.