- Title Pages
- Preface
- Introduction
- I.1 About Choice
- I.2 Processes of Choice
- I.3 Democratic Choice
- I.4 Budget Allocation and Priority
- I.5 Ramsey's Savings Rule
- II.1 Utility Hypothesis
- II.2 Algebra of Revealed Preference
- II.3 Combinatorics of Demand
- II.4 Separable Utility
- II.5 Direct and Indirect Utility
- II.6 Efficiency and Inefficiency
- III.1 Price and Quantity Levels
- III.2 The True Index
- III.3 Fisher and Byushgens
- III.4 The Four‐Point Formula
- III.5 Wald's ‘New Formula’
- IV.1 Opportunity Models
- IV.2 Leontief's Input‐Output
- IV.3 The Market
- IV.4 Sraffa's Prices
- IV.5 General Economic Equilibrium
- IV.6 Von Neumann's Economic Model
- V.1 Optimal Programming
- V.2 Convex Programming
- V.3 Linear Programming
- V.4 Minimum Paths
- V.5 Distribution Matrices
- VI.1 Calculus of Propositions
- VI.2 Algebra of Relations
- VI.3 Intersections and Fixed Points
- Bibliography
- Index

# Ramsey's Savings Rule

# Ramsey's Savings Rule

- Chapter:
- (p.78) I.5 Ramsey's Savings Rule
- Source:
- Logic of Choice and Economic Theory
- Author(s):
### S. N. Afriat

- Publisher:
- Oxford University Press

This final chapter of Part I of the book (on choice and the optimum) is a study of the optimal savings theory (the Savings Rule) of Frank Ramsey (1928)—what it represents and the arguments involved. Its nine sections are: counting and discounting; income disposition; Ramsey's problem; the Savings Rule; Keynes's argument (for the Savings Rule); Ramsey's argument (for the Savings Rule); time paths; a special case (of a production function as applied to savings); and discounted future (utility).

*Keywords:*
Arrow's impossibility theorem, choice, demand, democratic choice, optimum, positive association, revealed preference, voting

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- Title Pages
- Preface
- Introduction
- I.1 About Choice
- I.2 Processes of Choice
- I.3 Democratic Choice
- I.4 Budget Allocation and Priority
- I.5 Ramsey's Savings Rule
- II.1 Utility Hypothesis
- II.2 Algebra of Revealed Preference
- II.3 Combinatorics of Demand
- II.4 Separable Utility
- II.5 Direct and Indirect Utility
- II.6 Efficiency and Inefficiency
- III.1 Price and Quantity Levels
- III.2 The True Index
- III.3 Fisher and Byushgens
- III.4 The Four‐Point Formula
- III.5 Wald's ‘New Formula’
- IV.1 Opportunity Models
- IV.2 Leontief's Input‐Output
- IV.3 The Market
- IV.4 Sraffa's Prices
- IV.5 General Economic Equilibrium
- IV.6 Von Neumann's Economic Model
- V.1 Optimal Programming
- V.2 Convex Programming
- V.3 Linear Programming
- V.4 Minimum Paths
- V.5 Distribution Matrices
- VI.1 Calculus of Propositions
- VI.2 Algebra of Relations
- VI.3 Intersections and Fixed Points
- Bibliography
- Index