Sentence examples for lifetime utility from inspiring English sources

In our model, unitary households maximise expected lifetime utility.

Let V E be the discounted expected lifetime utility for a new worker.

According to classical economic theories, individuals make choices that maximise their lifetime utility.

Assume family members' consumption at home, C m, affects migrants' lifetime utility.

To incorporate this idea, here, I distinguish between V ( t ) E, the lifetime utility of a worker currently employed in a particular firm, and V ( t ) Eo, the lifetime utility he/she could obtain by working in other firms.

Return migration can be considered part of a lifetime utility maximisation plan with a given budget (and liquidity) constraints (Borjas and Bratsberg, 1996).

The JS of a system is interpreted in terms of the remaining uncertainty about the system lifetime, the utility of dependence between the lifetime and the number of failures of components fatal to the system, and the Bayesian decision theory.

Similarly, the lifetime expected utility for a person unemployed in period t can be written as: V ( t ) U = U + δ f V ( t + 1 ) Eo + ( 1 − f ) V ( t + 1 ) U (29).

Indeed, provided a firm keeps maximizing its profits subject to the same constraints over time, the lifetime expected utility after being re-contracted is set equal to that of unemployment after the expiry of the two-period contract.

Since it was assumed that wages (wmx, wus) are constant throughout a lifetime, the utility function simplifies to U=widehat{t}uleft({mu}^{mathrm{us}},{c}^{mathrm{us}}right)+left T-widehat{t}right)uleft({mu}^{mathrm{mx}},{c}^{mathrm{mx}}right) (2).

Let V ( t + 2 ) E ∗ be the maximized lifetime expected utility after the contract is renewed at period t+2; in addition, workers do not perceive that their present decisions on the level of effort affect V ( t + 2 ) E ∗, so V ( t + 2 ) E ∗ is taken as given in this model.