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Math Help - optimal consumption problem (2 period model of consumption)

  1. #1
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    optimal consumption problem (2 period model of consumption)

    hey I understand the cobb-douglas function but im unsure how you apply the concept to the question given below:

    "Solve the optimal consumption problem analytically using the following Cobb-Doublas utility function: <br />
U=C^{\alpha}_1<br />
C^{1-{\alpha}}_2 Subscripts 1 and 2 denote present (young) and future (old) periods and \alpha and 1- {\alpha} denote the weighted time preferences for these two periods respectively. "

    cheers
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  2. #2
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    Can you state the optimisation problem?
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