308 PONTIFICIAE ACADEMIAE SCIENTIARVM SCRIPTA VARIA - 
28 
take into account the decrease in the marginal utility of con- 
sumption. 
[ end up, in section 7, with the model first studied by 
RAMsEY. I there show that my treatment with discrete time is 
really quite similar to the one proposed by RAMSEY for a con- 
tinuous time model, and to the one exposed by Professor Koop- 
MANS a moment ago. 
15] Malinvaud - pag. 8