[請益] 效用限制線問題

作者: alicewang01 (阿雲)   2014-01-05 16:50:59
問題 :
The utility of A(aconsumer/borrower)is U(C1,C2)=C1C2, where C1 is the
consumption today and C2 is the consumpyion tomorrow. A has $Y1 today
and $Y2 tomorrow, Y1<Y2. To simplify, assume that interest rate is r=0
and therefore the budget constraint is C1+C2=Y1+Y2. The consumer has a
credit limit of $q so that C1-Y1<=q. The utility maximization problem is
: max C1C2
subject to : C1+C2=Y1+Y2, C1-Y1<=q
(a) State the Lagrangian of the problem and the K-T conditions
(b) Find the solution (there 2 cases)
第一小題没什麼問題,但不懂第二小題為什麼有兩個cases
希望大家解答,謝謝:)
作者: xxxxxxxx ( 一切重新開始)   2014-01-06 02:29:00
當q小於某個值時,會出現角解

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