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A Consumer with a Time-Varying B-Matrix

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  • A.S.G. LUBULWA

    (La Trobe University)

Abstract

This paper introduces the idea of a consumer who has time varying Lancasterian matrix of characteristics imbedded in an intertemporal Stone-Geary utility function. The thrust of the paper is theoretical, its main aim being generalisation of the theoretical contributions of Dixon and Lluch (1977). The main contribution in Dixon and Lluch (1977) is that DELES, a system of equation is proposed which describe the consumer’s planned and actual expenditure paths for durable. In order to derive these equations they have a consumer’s maximizing an inter-temporal Klein –Rubin utility function defined on the stocks of durables, subject to a budget integral constraint and a vector of durable goods stock’s adjustment equations.

Suggested Citation

  • A.S.G. Lubulwa, 1983. "A Consumer with a Time-Varying B-Matrix," Discussion Papers (REL - Recherches Economiques de Louvain) 1983015, Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES).
    • Handle: RePEc:ctl:louvre:1983015
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