Optimal Consumption Under Uncertainty, Liquidity Constraints, and Bounded Rationality
作者： mer zak
DOI: 10.2139/SSRN.2338236
关键词:
摘要: I study how boundedly rational agents can learn the solution to an infinite horizon optimal consumption problem under uncertainty and liquidity constraints. present conditions for existence of linear rule characterize it. Additionally, use empirically plausible theory learning generate a class adaptive algorithms that converges rule. This provides foundation neoclassical theory.
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