We examine the intertemporal optimal consumption and investment problem in a continuous-time economy with a divisible durable good. Consumption services are assumed to be proportional to the stock of the good held and adjustment of the stock is costly, in that it involves the payment of a proportion
Optimal quantity of a controversial good or service
โ Scribed by Robert E. Kohn
- Publisher
- Springer US
- Year
- 1986
- Tongue
- English
- Weight
- 278 KB
- Volume
- 51
- Category
- Article
- ISSN
- 0048-5829
No coin nor oath required. For personal study only.
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