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|Title:||A SIMPLE MODEL FOR MAXIMIZING DISCOUNTED STREAM OF UTILITY FROM CONSUMPTION WHEN THE RATE OF PRODUCTION IS LINEAR|
|Publisher:||Nigerian the Journal of Accounting and Finance|
|Abstract:||This paper presents a simple model for maximizing discounted steam of utility from consumption given that the production rate is linear. An analytic model for this system was earlier presented by Osagiede et al. (2009). A solution was provided to a level where methods of solving order differential equation will he applied, but they left off there, as a result of the mathematical complexity involved in the solution procedure. In this paper, we propose a simplified mathematical solution procedure to the mathematical Complexity encountered by (Osagiede et al. 2009). The model generates solutions to problems of such linear systems when numerical values are supplied for all the parameters in the without rigorous mathematical computations. The implementation of this method of solution to the proposed model is easy and computationally efficient with an illustrative example.|
|Appears in Collections:||Abstracts|
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