ANTICIPATED FUTURE CONSUMPTION IN AN ENDOGENOUS GROWTH MODEL
Abstract
We devise an endogenous growth model in which agents’ utility depends not only on current consumption but also on the pleasure of anticipated future consumption. We consider the case in which agents derive satisfaction from their own anticipatory feelings—inward-looking or internal anticipation—and the case in which agents derive utility from anticipation of other people’s future consumption—outward-looking or external anticipation. We...
Paper Details
Title
ANTICIPATED FUTURE CONSUMPTION IN AN ENDOGENOUS GROWTH MODEL
Published Date
Nov 11, 2020
Journal
Volume
26
Issue
5
Pages
1202 - 1238
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