utilfun: Calculates Utility functions

In floswald/ArmaUtils: Rcpp Helper Functions

Description

Calculates CRRA utility of u(Resources, hsize, age, params, xi, own ) at each entry of Resources. Not used in Li, Meghir, Oswald.

Usage

utilfun(Resources, hsize, age, params, xi, own )

Arguments

Resources	a numeric matrix
hsize	either a scalar or a vector of length nrow(Resources) of current house size
age	integer age of individual
params	list of scalar parameters: theta: ownership premium alpha: consumption share cutoff: minimal consumption level c*. quadratic approximation for c<c*
xi	list of vector parameters
own	boolean value for ownership

Details

computes CRRA utility of u(c,h,H,theta,t). see doc/ufun.pdf. Computes a quadratic approximation to u() for values of consumption such that c < c*, where c* > 0.

Value

Numeric matrix of CRRA utility values

Author(s)

<[e-mail]>

Examples

## Not run: 
pars <- list(alpha=0.6,sigma=1.6,cutoff=0.05,theta=1.1)
maxage <- 10
fsize <- seq(1,3,le=maxage)
xi <- list()
xi[[1]]    <- fsize^(pars$sigma -1)
xi[[2]]    <- xi[[1]] / (1-pars$sigma)
xi[[3]]    <- pars$alpha*(1-pars$sigma)
xi[[4]]    <- (1-pars$alpha)*(1-pars$sigma)
xi[[5]]    <- pars$alpha*(1-pars$sigma) -1 

Res  <- Res <- outer(1:5,-4:8,FUN="+")

utilfun(Resources=Res,hsize=2,age=4,params=pars,xi=xi,own=TRUE)
utilfun(Resources=Res,hsize=2,age=4,params=pars,xi=xi,own=FALSE)
utilfun(Resources=Res,hsize=1:5,age=4,params=pars,xi=xi,own=FALSE)
utilfun(Resources=Res,hsize=1:6,age=4,params=pars,xi=xi,own=FALSE)	# error message: too many house sizes.

## End(Not run)

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