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Small documentation fixes #1497

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Sep 19, 2024
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14 changes: 5 additions & 9 deletions HARK/ConsumptionSaving/ConsBequestModel.py
Original file line number Diff line number Diff line change
Expand Up @@ -273,12 +273,8 @@ def make_warmglow_portfolio_solution_terminal(

class BequestWarmGlowConsumerType(IndShockConsumerType):
r"""
A consumer type with idiosyncratic shocks to permanent and transitory income.
Their problem is defined by a sequence of income distributions, survival probabilities
(:math:`1-\mathsf{D}`), and permanent income growth rates (:math:`\Gamma`), as well
as time invariant values for risk aversion (:math:`\rho`), discount factor (:math:`\beta`),
the interest rate (:math:`\mathsf{R}`), the grid of end-of-period assets, and an artificial
borrowing constraint (:math:`\underline{a}`).
A consumer type with based on IndShockConsumerType, with an additional bequest motive.
They gain utility for any wealth they leave when they die, according to a Stone-Geary utility.

.. math::
\newcommand{\CRRA}{\rho}
Expand All @@ -295,7 +291,7 @@ class BequestWarmGlowConsumerType(IndShockConsumerType):
(\psi_{t+1},\theta_{t+1}) &\sim F_{t+1}, \\
\mathbb{E}[\psi]=\mathbb{E}[\theta] &= 1, \\
u(c) &= \frac{c^{1-\CRRA}}{1-\CRRA} \\
u_{Beq} (a) = \textbf{BeqFac} \frac{(a+\textbf{BeqShift})^{1-\CRRA_{Beq}}}{1-\CRRA_{Beq}}
u_{Beq} (a) &= \textbf{BeqFac} \frac{(a+\textbf{BeqShift})^{1-\CRRA_{Beq}}}{1-\CRRA_{Beq}} \\
\end{align*}


Expand Down Expand Up @@ -1277,7 +1273,7 @@ def calc_EndOfPrd_v(S, a, z):

class BequestWarmGlowPortfolioType(PortfolioConsumerType):
r"""
A consumer type with based on IndShockConsumerType, with an additional bequest motive.
A consumer type with based on PortfolioConsumerType, with an additional bequest motive.
They gain utility for any wealth they leave when they die, according to a Stone-Geary utility.

.. math::
Expand All @@ -1300,7 +1296,7 @@ class BequestWarmGlowPortfolioType(PortfolioConsumerType):
(\psi_{t+1},\theta_{t+1},\phi_{t+1},p_t) &\sim F_{t+1}, \\
\mathbb{E}[\psi]=\mathbb{E}[\theta] &= 1. \\
u(c) &= \frac{c^{1-\CRRA}}{1-\CRRA} \\
u_{Beq} (a) = \textbf{BeqFac} \frac{(a+\textbf{BeqShift})^{1-\CRRA_{Beq}}}{1-\CRRA_{Beq}}
u_{Beq} (a) &= \textbf{BeqFac} \frac{(a+\textbf{BeqShift})^{1-\CRRA_{Beq}}}{1-\CRRA_{Beq}} \\
\end{align*}


Expand Down
2 changes: 1 addition & 1 deletion HARK/ConsumptionSaving/ConsIndShockModel.py
Original file line number Diff line number Diff line change
Expand Up @@ -2798,7 +2798,7 @@ class KinkedRconsumerType(IndShockConsumerType):
\end{cases}\\
\Rfree_{boro} &> \Rfree_{save}, \\
(\psi_{t+1},\theta_{t+1}) &\sim F_{t+1}, \\
\mathbb{E}[\psi]=\mathbb{E}[\theta] &= 1.
\mathbb{E}[\psi]=\mathbb{E}[\theta] &= 1.\\
u(c) &= \frac{c^{1-\CRRA}}{1-\CRRA} \\
\end{align*}

Expand Down
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