| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w24162 |
| 来源ID | Working Paper 24162 |
| Necessary and Sufficient Conditions for Existence and Uniqueness of Recursive Utilities | |
| Jaroslav Borovička; John Stachurski | |
| 发表日期 | 2018 |
| 出版年 | 2018 |
| 语种 | 英语 |
| 摘要 | We study existence, uniqueness and stability of solutions for a class of discrete time recursive utilities models. By combining two streams of the recent literature on recursive preferences - one that analyzes principal eigenvalues of valuation operators and another that exploits the theory of monotone concave operators - we obtain conditions that are both necessary and sufficient for existence and uniqueness. We also show that the natural iterative algorithm is convergent if and only if a solution exists. Consumption processes are allowed to be nonstationary. |
| 主题 | Microeconomics ; Economics of Information ; Financial Economics ; Portfolio Selection and Asset Pricing |
| URL | https://www.nber.org/papers/w24162 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/581836 |
| 推荐引用方式 GB/T 7714 | Jaroslav Borovička,John Stachurski. Necessary and Sufficient Conditions for Existence and Uniqueness of Recursive Utilities. 2018. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w24162.pdf（351KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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