Endogenizing Time Preference And Optimal Growth

The research of this paper mainly focused on the economic growth under the condition of endogenizing time preference. In the paper, the research basement was the Ramsey-Cass-Koopmans model. It would make dynamic analysis and statistic analysis to resolve macroeconomic problems using some mathematical tools such as dynamic optimal, optimal control and so on. The most important characteristic was that this paper didn' t use the traditional utility function based on consumption, but it introduced the capital in the utility function, and on the basement we also endogenized the time preference.This paper derived some useful conclusions under equilibrium conditions, and explained the differences between the model and Uzawa model. Additionally, this paper discussed the problem of capitalist spirit, savings and so on. This paper also introduced the concept: the contribution of capital to utility. At the same time , we gave it the measure.