Economics, Econometrics and Finance
3 years ago

New model predicts economic growth dynamics based on individual risk factors.

Computational Economics
Complementarity Modeling of a Ramsey-Type Equilibrium Problem with Heterogeneous Agents
Leonhard Frerick, Georg Muller‐Fürstenberger, Martin Schmidt, Max Späth

Paper Summary

The article presents a model that looks at how different types of people make decisions about saving money. The researchers show that there are solutions to this model using a specific mathematical approach. They also find that in a simulated scenario, people with different attitudes towards risk and wealth end up with different amounts of money over time.

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