Honors College Thesis
 

Dangerous Cake

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https://ir.library.oregonstate.edu/concern/honors_college_theses/bc386m14m

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  • We explore the limitations of the CRRA utility speci cation as applied to cake-eating problems. We construct a set of conditions under which cake- eating problems have no optimal solution. Furthermore, we explore how agents choose their consumption path when an optimization problem has no solution, and suggest a method for ranking divergent utility streams.
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