Complete monotonicity of the representative consumer’s discount factor
نویسندگان
چکیده
منابع مشابه
Complete Monotonicity of the Representative Consumer’s Discount Factor
A univariate real-valued function is said to be completely monotone if it takes positive values and alternate the signs of its higher order derivatives, starting from everywhere negative first derivatives. We prove that the representative consumer’s discount factor of a continuous-time economy under uncertainty is a power function of some completely monotone function of time satisfying certain ...
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ژورنال
عنوان ژورنال: Journal of Mathematical Economics
سال: 2008
ISSN: 0304-4068
DOI: 10.1016/j.jmateco.2008.07.006