Two-Factor Model of a Rational Profit-Oriented Behavior of Household
Journal Title: Бізнес Інформ - Year 2015, Vol 2, Issue 0
Abstract
In the article relevance of research of the economic, in particular the profit-oriented, behavior of household, which is a form of a small social group, is substantiated. A model of rational profit-oriented behavior of household in the form of a system of ordinary differential equations is built, in which the factors of change of the amount of total income are the available income and dimensionless value of human capital. It has been determined, that in the medium term the motivation for increase of human capital turns out to be effective, which is aimed at increasing revenues, but in the long term - the one aimed at achieve a certain level of the human capital value, which in turn provides the positive dynamics of total income. One of the directions of further research is to expand the existing models by dividing the indicators of forming the household income on the endogenous (profit and mixed income; income from property) and the exogenous (wages; social assistance and other current transfers).
Authors and Affiliations
Roman Ivanov
Keywords
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