Habits, Rationality and Myopia in the Life-Cycle Consumption Function.
This paper investigates the role of habits in the consumption function. Two types of habits are considered: rational and myopic, these being distinctions which have long been made in the literature on systems of demand equations. In both cases past consumption affects current preferences, thus break...
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| Formato: | Working paper |
| Lenguaje: | English |
| Publicado: |
CEPR
1986
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