Household: Household class

In R4GoodPersonalFinances: Make Optimal Financial Decisions

Household class

Description

The Household class aggregates information about a household and its members.

Value

An object of class Household.

Active bindings

expected_income

Set of rules that are used to generate streams of expected income

expected_spending

Set of rules that are used to generate streams of expected spending

risk_tolerance

Risk tolerance of the household

consumption_impatience_preference

Consumption impatience preference of the household - subjective discount rate (rho). Higher values indicate a stronger preference for consumption today versus in the future.

smooth_consumption_preference

Smooth consumption preference of the household - Elasticity of Intertemporal Substitution (EOIS) (eta). Higher values indicate more flexibility and a lower preference for smooth consumption.

Methods

Public methods

• Household$get_members()

• Household$add_member()

• Household$set_member()

• Household$set_lifespan()

• Household$get_lifespan()

• Household$calc_survival()

• Household$get_min_age()

• Household$clone()

---

Method get_members()

Getting members of the household

Usage

Household$get_members()

---

Method add_member()

Adding a member to the household It will fail if a member with the same name already exists.

Usage

Household$add_member(household_member)

Arguments

household_member

A HouseholdMember object.

---

Method set_member()

Setting a member of the household If a member already exists, it will be overwritten.

Usage

Household$set_member(member)

Arguments

member

A HouseholdMember object.

---

Method set_lifespan()

Setting an arbitrary lifespan of the household

Usage

Household$set_lifespan(value)

Arguments

value

A number of years.

---

Method get_lifespan()

Getting a lifespan of the household If not set, it will be calculated based on the members' lifespans.

Usage

Household$get_lifespan(current_date = get_current_date())

Arguments

current_date

A date in the format "YYYY-MM-DD".

---

Method calc_survival()

Calculating a survival rate of the household based on its members' parameters of the Gompertz model.

Usage

Household$calc_survival(current_date = get_current_date())

Arguments

current_date

A date in the format "YYYY-MM-DD".

---

Method get_min_age()

Calculating a minimum age of the household members.

Usage

Household$get_min_age(current_date = get_current_date())

Arguments

current_date

A date in the format "YYYY-MM-DD".

---

Method clone()

The objects of this class are cloneable with this method.

Usage

Household$clone(deep = FALSE)

Arguments

deep

Whether to make a deep clone.

Examples

household <- Household$new()
household$risk_tolerance
household$consumption_impatience_preference
household$smooth_consumption_preference

R4GoodPersonalFinances documentation built on June 8, 2025, 11:18 a.m.