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  • 标题:Habit Formation and Preference Change with Capital and Renewable Resources
  • 本地全文:下载
  • 作者:Zhang, Wei-Bin
  • 期刊名称:Business Systems Research
  • 印刷版ISSN:1847-8344
  • 电子版ISSN:1847-9375
  • 出版年度:2013
  • 卷号:4
  • 期号:2
  • 页码:108-125
  • DOI:10.2478/bsrj-2013-0016
  • 语种:English
  • 出版社:Udruga za promicanje poslovne informatike
  • 摘要:Background: Although there are many formal models about interactions among habit formation, preference change and the economic growth, only a few formal models examine implications of habit formation and preference change for the economic growth with resources. Objectives: This paper builds an economic growth model with endogenous physical capital, renewable resources, habit formation and preference. Methods: Although it is influenced by the Ramsey growth theory with time preference and habit formation, the paper applies a new approach to the household behaviour. Results: We plot the motion of the economy and conduct a comparative dynamic analysis with regard to certain parameters to obtain insights into interactions between the preference and the economic structural changes. Conclusions: We have shown that habit formation and preference change have significant effects on the economic grow and resources utilization both with regard to the transitional paths and the long-run equilibrium.
  • 关键词:Renewable resources; habit formation; preference change; economic growth; structural change
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