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文章基本信息

  • 标题:How does the no-Ponzi game condition work in an optimal consumption problem?
  • 本地全文:下载
  • 作者:Kenichi Tamegawa
  • 期刊名称:Cogent Economics & Finance
  • 电子版ISSN:2332-2039
  • 出版年度:2013
  • 卷号:1
  • 期号:1
  • 页码:42-44
  • DOI:10.1080/21649480.2013.810553
  • 出版社:Taylor and Francis Ltd
  • 摘要:

    In an optimal consumption choice problem, in which households have assets yielding interest rates, it is difficult to guarantee the existence of a solution without some restrictions for the consumption space, if the assumed utility function is unbounded. In this article, we formally state how the no-Ponzi game condition is used to guarantee an existence of optimal solutions. Furthermore, we provide the condition in which a solution attains the finite intertemporal utility.

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