3 citations · 3 across the 2 of their papers we have counts for
6 papers
A Theory of the Saving Rate of the Rich
Qingyin Ma, Alexis Akira Toda
Empirical evidence suggests that the rich have higher propensity to save than do the poor. While this observation may appear to contradict the homotheticity of preferences, we theo…
Dynamic Optimal Choice When Rewards are Unbounded Below
Qingyin Ma, John Stachurski
We propose a new approach to solving dynamic decision problems with rewards that are unbounded below. The approach involves transforming the Bellman equation in order to convert an…
The Income Fluctuation Problem and the Evolution of Wealth
Qingyin Ma, John Stachurski, Alexis Akira Toda
We analyze the household savings problem in a general setting where returns on assets, non-financial income and impatience are all state dependent and fluctuate over time. All thre…
The Income Fluctuation Problem with Capital Income Risk: Optimality and Stability
Qingyin Ma, John Stachurski, Alexis Akira Toda
This paper studies the income fluctuation problem with capital income risk (i.e., dispersion in the rate of return to wealth). Wealth returns and labor earnings are allowed to be s…
Dynamic Programming Deconstructed: Transformations of the Bellman Equation and Computational Efficiency
Qingyin Ma, John Stachurski
Some approaches to solving challenging dynamic programming problems, such as Q-learning, begin by transforming the Bellman equation into an alternative functional equation, in orde…
Optimal Timing of Decisions: A General Theory Based on Continuation Values
Qingyin Ma, John Stachurski
Building on insights of Jovanovic (1982) and subsequent authors, we develop a comprehensive theory of optimal timing of decisions based around continuation value functions and oper…