Maximin growth paths with recursive preferences: A complete characterization
作者： Alvaro Rodriguez
DOI: 10.1007/BF01227523
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摘要: This paper examines the growth paths that maximize utility of worst off generation for an economy where preferences are stationary and can be represented by a recursive function. The analysis focuses on case second period is inferior good. It shown in such maximin time inconsistent. A possible solution to inconsistency problem examined.
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