stochastic optimization problem However under realistic descriptions of utility and uncertainty the optimal consumption/saving …The standard approach to modelling consumption/saving problems is to assume that the decisionmaker is solving a dynamic …

This paper studies the consumption decisions of agents who face costs of acquiring, absorbing and processing … consumption plans. In between updating dates, they remain inattentive. This behaviour implies that news disperses slowly … throughout the population, so events have a gradual and delayed effect on aggregate consumption. The model predicts that …

consideration of possible time paths for savings, consumption, debt, and other relevant macroeconomic variables; nor have explicit … choosing time paths through the use of a Ramsey-Solow model of optimal saving, adapted for investigating problems of population … envisaged by current policy. The cost of ageing in terms of reduced real consumption is not large enough to justify large …

electricity consumption and influenced by the opinion of their close relatives. We also examined how consumption awareness is … over-analysis). Findings: Our study showed that the number of occupants does not affect consumption patterns as most … changes in savings are explained by either awareness or by a clear understanding of consumption patterns, and only 10.2% by …