AIMMS - Life Cycle Consumption

Description

In this example a life-cycle consumption optimization problem has been modeled, including labor and assets.

Users of this application can make changes to the model from the user interface. Two types of utility functions are available:

* Exponential utility: Utility = - Exp( - Consumption ) - Labor^2

* Square root utility: Utility = Sqrt( Consumption ) - Labor^2

In addition, the user can choose to allow borrowing up to a chosen level, adding explicit modeling of assets to the model.

Keywords

Utility Function, Discount Factor, Present Value, Future Value, Curve Object

Industries

Services & Government

Model Types

Nonlinear Programming

Download AIMMS Example

You can download an AIMMS example dealing with this problem via the link below, and run it after installing the AIMMS software. If you don't have an AIMMS license yet, you can download a free license of AIMMS.

ftp://ftp.aimms.com/pub/Download/Examples/Life Cycle Consumption.aimmspack

Please make sure to save this file including the .aimmspack extension so that it can be opened by AIMMS.

This example application is a simplification of reality. Please do not hesitate to contact us to discuss how AIMMS enables you to build a complete optimization application that captures the full complexity of your problem.

Screenshot AIMMS Example

Life Cycle Consumption