Comparative risk aversion: a formal approach with applications to saving behavior (Q435921): Difference between revisions
From MaRDI portal
Set profile property. |
Set OpenAlex properties. |
||
Property / full work available at URL | |||
Property / full work available at URL: https://doi.org/10.1016/j.jet.2010.10.015 / rank | |||
Normal rank | |||
Property / OpenAlex ID | |||
Property / OpenAlex ID: W3021786409 / rank | |||
Normal rank |
Revision as of 03:45, 20 March 2024
scientific article
Language | Label | Description | Also known as |
---|---|---|---|
English | Comparative risk aversion: a formal approach with applications to saving behavior |
scientific article |
Statements
Comparative risk aversion: a formal approach with applications to saving behavior (English)
0 references
13 July 2012
0 references
The authors consider a formal approach to comparative risk aversion and apply it in three main directions. First, they discuss the extent to which standard classes of utility functions are well ordered in terms of risk aversion. Second, they discuss the role of risk aversion without focusing on any specific model of rationality. Third, they apply the setup to establish new general results on the role of risk aversion. In particular, they show that risk aversion enhances precautionary savings, clarifying the link between risk aversion and prudence.
0 references
risk aversion
0 references
saving behavior
0 references
precautionary savings
0 references
utility function
0 references