2006-03-16Buch DOI: 10.18452/3782
Non-Time Additive Utility Optimization
the Case of Certainty
We study the intertemporal utility maximization problem for Hindy-Huang-Kreps utilities. Necessary and sufficient conditions for optimality are given. An explicit solution is provided for a large class of utility functions. In particular, the case of separable power utilities with a finite time horizon is solved explicitly.
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