Timeline for Set of consumption over all period is convex in $\mathbb{R}^T_+$?
Current License: CC BY-SA 4.0
5 events
| when toggle format | what | by | license | comment | |
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| Dec 28, 2020 at 8:59 | answer | added | Amaan M | timeline score: 1 | |
| Dec 12, 2020 at 9:43 | comment | added | Jesper Hybel | Well I'm sorry to hear that. Still, you must have an optimization problem specifying some initial conditions as well as a transitionsmechanism. Without this there is nothing to suggest that $c(S)$ is even compact. Why could $c(S)=\{(1,1),(2,2)\}$ with $T=2$? Nothing in your question contradicts this. Short of someone guessing the details of the problem you are trying to grasp I am afraid you will not get an answer. So if you have anymore information pls. provide it. | |
| Dec 12, 2020 at 8:30 | comment | added | Doubts | Hey @JesperHybel, the professor just mentioned C(S) be the set of all T–period consumption plans, which is not empty. With regards to the utilty functions, he mentioned that $U(.)$ is twice differentiable concave functions.. Also, I asked the Professor, he said it is for me to figure it out! So...not much help either | |
| Dec 12, 2020 at 7:43 | comment | added | Jesper Hybel | How is $c(S)$ defined? Whether $W$ is continuous will depend on $U(.)$ is the sum of continuous functions itself a continuous function? Without more information about the context it is impossible to answer the question, so I think the best option is to consult the book/notes for the course or ask the professor. He is paid to teach after all. | |
| Dec 12, 2020 at 7:14 | history | asked | Doubts | CC BY-SA 4.0 |