Optimal attention and heterogeneous precautionary saving behavior

DOI10.1016/J.JEDC.2021.104230MaRDI QIDQ2246795zbMATH OpenOpenAlexFDO

Authors Penghui Yin

Publication date 16 November 2021

Published in Journal of Economic Dynamics and Control (Search for Journal in Brave)

Full work available at URL https://doi.org/10.1016/j.jedc.2021.104230

zbMATH Keywords

capital-income riskconsumption-saving decisioninformation-processing constraint

Mathematics Subject Classification ID

Consumer behavior, demand theory (91B42)

Recommendations

• Saving motives and multivariate precautionary premia
• Precautionary saving and risk aversion: an anticipated utility approach
• A tractable model of precautionary saving in continuous time
• Risk aversion, prudence and mixed optimal saving models
• Revisiting precautionary saving under ambiguity
• On the precautionary motive for savings and prudence in the rank-dependent utility framework
• Optimal saving rules for loss-averse agents under uncertainty
• Precautionary saving and the notion of ambiguity prudence
• Precautionary saving and subjective earnings variance

Cites work

• A Mathematical Theory of Communication
• Business cycle dynamics under rational inattention
• Decision Making and the Temporal Resolution of Uncertainty
• Discrete Actions in Information-Constrained Decision Problems
• Dynamic rational inattention: analytical results
• Heterogeneity and persistence in returns to wealth
• Induced uncertainty, market price of risk, and the dynamics of consumption and wealth
• Information acquisition and under-diversification
• Information and inequality
• Optimal inattention to the stock market with information costs and transactions costs
• Rational inattention and the dynamics of consumption and wealth in general equilibrium
• Rationally Inattentive Seller: Sales and Discrete Pricing
• The Accumulation of Risky Capital: A Sequential Utility Analysis
• Transactions costs and portfolio choice in a discrete-continuous-time setting
• Wealth Inequality and Intergenerational Links

Cited in

(6)

• An experimental analysis of satisficing in saving decisions
• Rational inattention and the dynamics of consumption and wealth in general equilibrium
• Precautionary saving demand and consumption dynamics with the spirit of capitalism and regime switching
• Elastic attention, risk sharing, and international comovements
• Ambiguity, information processing, and financial intermediation
• On the precautionary motive for savings and prudence in the rank-dependent utility framework

This page was built for publication: Optimal attention and heterogeneous precautionary saving behavior

Report a bug (only for logged in users!)Click here to report a bug for this page (MaRDI item Q2246795)