DECISIONES DE CONSUMO Y PORTAFOLIO BAJO CONDICIONES DE RIESGO E INCERTIDUMBRE

Abstract

This investigation is aimed to develop a model that describes the behavior of a risk-averse consumer-investor that makes consumption and portfolio decisions under risk and uncertainty. With the purpose to generate an analytical solution of the utility maximization problem of a rational consumer, the structure of economy stays as simple as possible. It is assumed that the economy is populated by identical and infinitely lived agents, who obtain satisfaction from the consumption of a perishable good.