OA utility increasing We can represent differences in preferences for consumption in old age and youth by differences in the shape of the indifference curves. Suppose, for example, somebody has a strong preference for consumption in old age Then her indifference curves will look something like this OA Miser Her curves are flat for the following reason. Since she is a miser a small reduction in consumption in old age must be compensated for by a large increase in youth to make her indifferent9 We can represent differences in preferences for consumption in old age and youth by differences in the shape of the indifference curves. Suppose, for example, somebody has a strong preference for consumption in old age. Then her indifference curves will look something like this: Her curves are flat for the following reason. Since she is a miser a small reduction in consumption in old age must be compensated for by a large increase in youth to make her indifferent