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Random walk model of consumption : ウィキペディア英語版
Random walk model of consumption
The random walk model of consumption was introduced by economist Robert Hall.〔Hall (1978)〕 This model uses the Euler equation to model consumption. He created his consumption theory in response to the Lucas critique. Using Euler equations to model the random walk of consumption has become the dominant approach to modeling consumption.
==Background==
Hall introduced his famous random walk model of consumption in 1978. His approach is differentiated from earlier theories by the introduction of the Lucas critique to modeling consumption. He incorporated the idea of rational expectations into his consumption models and sets up the model so that consumers will maximize their utility.

抄文引用元・出典: フリー百科事典『 ウィキペディア(Wikipedia)
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