A Gradient Model of Dynamic Consumer Behaviour
Gradient methods have been useful in economics, particularly in non-linear programming and estimation. This paper outlines a gradient model of dynamic consumer behaviour under uncertainty. An extension to a two-consumer bargaining model is suggested. A key role is played by the nature and extent of consumer's information regarding his income and preference field and the prices he faces.
Year of publication: |
1972
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Authors: | Comay, Y. ; Maital, Shlomo ; Rutenberg, A. |
Institutions: | Economics Department, Queen's University |
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