ufun_Atta: Calculates Utility functions from Wakefield et al REDyn 2012

In floswald/ArmaUtils: Rcpp Helper Functions

Description

Calculates CRRA utility from u(Resources, hsize, params )

Usage

ufun_Atta(Resources, hsize, params)

Arguments

Resources	a numeric matrix
hsize	either a scalar or a vector of length nrow(Resources) of current house size
params	list of scalar parameters: theta: elasticity of substitution c,h gamma: coefficient of relative risk aversion phival: fraction of house-utility derived from flat mu: ownership premium cutoff: minimal consumption level c*. quadratic approximation for c<c*

Details

computes CRRA utility of u(c,h,params).

u(c,h) = c^1-gamma / (1-gamma) * exp( theta * phi(h) ) + mu * phi(h), phi(h) = 0 if h=0, phi(h) = phival if h=1, phi(h) = 1 if h=2

Computes a quadratic approximation to u() for values of consumption such that c < c*, where c* > 0. Resoures can be a scalar, a vector or a matrix. Utility is computed on all elements. Some care needs to be taken when supplying a matrix of consumption values: the corresponding vector of house sizes needs to be either a scalar (same house size at all cons values) or of length nrow(Resources)

Value

Numeric matrix of CRRA utility values

Author(s)

<[e-mail]>

Examples

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	examples

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floswald/ArmaUtils documentation built on May 16, 2019, 1:23 p.m.