The in the lifetime utility function represents:
A) consumption.
B) the level of uncertainty.
C) any number greater than one.
D) consumer patience.
E) life expectancy.

Question

The  in the lifetime utility function represents:
A) consumption. 
B) the level of uncertainty. 
C) any number greater than one. 
D) consumer patience. 
E) life expectancy.

Quizplus · Accepted Answer

The 11eab38d_06eb_5c7d_a5fb_e798a985ccad_TB6622_00 parameter in the lifetime utility function represents consumer patience. It reflects the individual's willingness to trade present consumption for future consumption. Higher values of TB6622_00 indicate higher patience, while lower values indicate lower patience. Therefore, option D is the correct choice.

The in the Lifetime Utility Function Represents