ISBN:
9783031549861
Language:
English
Pages:
1 Online-Ressource (XVI, 145 p. 25 illus., 3 illus. in color.)
Series Statement:
Classroom Companion: Economics
Parallel Title:
Erscheint auch als
Parallel Title:
Erscheint auch als
Parallel Title:
Erscheint auch als
Keywords:
Microeconomics.
;
Macroeconomics.
;
Econometrics.
;
Social sciences
;
Consumer Economics
;
Optimization Techniques
;
Programming Models
;
Dynamic programming
;
Continuous-time stochastic optimization
;
Discrete-time stochastic optimization
;
Stochastic intertemporal model
;
Intertemporal consumption
;
Uncertain income
;
Portfolio allocation
;
Efficiency pricing
;
Empirical estimates
;
Neoclassical growth theory
;
Technological progress
;
Sustainable growth
Abstract:
Consumption and Certainty -- Consumption and Uncertainty in Discrete-time -- Consumption and Portfolio Rules -- Consumption and Economic Growth -- Consumption and Uncertainty in Continuous Time.
Abstract:
This textbook offers a compact, yet formal, synthesis of the broad field of consumption theory. Written in a coherent and accessible way, this book introduces graduate and postgraduate students to dynamic optimization applied to consumption under certainty and uncertainty, in discrete and continuous time. Delving into deterministic and stochastic models, including the use of Brownian motions, the book offers a deeper understanding of consumption decisions and their impact on asset pricing and investment in partial and general equilibrium. This book compiles lecture notes from advanced courses in micro- and macroeconomics, ensuring a self-contained introduction to the subject. Balancing simplicity with analytical rigor, the book equips readers with essential methodological tools for advanced research in economics. With empirical evidence and exercises integrated throughout, this textbook stands as the go-to resource for scholars and students alike, fostering further theoretical explorations in the field. Basic knowledge of economics, mathematics, and econometrics is recommended for a comprehensive understanding.
DOI:
10.1007/978-3-031-54986-1
