In this paper, an integrated approach is proposed for non-recursive formulation of connection coefficients of different orthogonal functions in terms of a generic orthogonal function. The application of these coefficients arises when the product of two orthogonal basis functions are to be expressed in terms of single basis functions. Two significant advantages are achieved; one, the non-recursi...

We prove that the consumption functions in optimal savings problems are asymptotically linear if marginal utility is regularly varying, or loosely speaking, behaves like a power function for wealthy agents. also analytically characterize asymptotic propensities to consume (MPCs) out of wealth. Our results useful obtaining good initial guesses when numerically computing functions, and provide th...

People systematically underestimate exponential growth. This article illustrates this phenomenon, its implications, and some potential interventions in the context of saving for retirement, where savings grow exponentially over long periods of time. Experiment 1 shows that a majority of participants expect savings over 40 years to grow linearly rather than exponentially, leading them to grossly...

Abstract This article documents that parents accumulate savings to insure their children against income risk. I refer this behaviour as dynastic precautionary saving. Using a sample of matched parent–child pairs from the Panel Study Income Dynamics, test for by examining response parental consumption child’s permanent uncertainty. exploit variation in risk across age and industry–occupation gro...

OBJECTIVE To synthesize the data available--on costs, efficiency and economies of scale and scope--for the six basic programmes of the UNAIDS Strategic Investment Framework, to inform those planning the scale-up of human immunodeficiency virus (HIV) services in low- and middle-income countries. METHODS The relevant peer-reviewed and "grey" literature from low- and middle-income countries was ...

Using a four-round panel dataset from Kagera, Tanzania, we examine whether households that suffer a death engage in precautionary savings to smooth consumption over the crisis. Under Deaton’s buffer-stock hypothesis, savings equal the present value of future falls in income. In that case, we should see greater accumulation of assets among households which anticipate a death, and liquidation of ...

Despite decades of intensive research, efficient — or even sub-exponential time — distributionfree PAC learning algorithms are not known for many important Boolean function classes. In this work we suggest a new perspective for algorithmic research on these learning problems, inspired by a surge of recent research in complexity theory, in which the goal is to determine whether and how much of a...