On the precautionary motive for savings and prudence in the rank-dependent utility framework

DOI10.1007/s00199-015-0883-xzbMath1367.91065OpenAlexW2150396084MaRDI QIDQ2634142

Alain Chateauneuf, Ghizlane Lakhnati, Eric Langlais

Publication date: 8 February 2016

Published in: Economic Theory (Search for Journal in Brave)

Full work available at URL: https://faculty-research.ipag.edu/wp-content/uploads/recherche/WP/IPAG_WP_2014_597.pdf

zbMATH Keywords

prudencepessimismlocal weak prudenceRDU modelstrong risk aversion

Mathematics Subject Classification ID

Utility theory (91B16)

Related Items (1)

Apportioning of risks via stochastic dominance

Cites Work

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• Risk aversion in the theory of expected utility with rank dependent probabilities
• Comparative statics for rank-dependent expected utility theory
• Comonotonicity axioms and rank-dependent expected utility theory for arbitrary consequences
• Separating marginal utility and probabilistic risk aversion
• Non-additive measure and integral
• Risk seeking with diminishing marginal utility in a non-expected utility model
• More on parametric characterizations of risk aversion and prudence
• Saving under rank-dependent utility
• Comparative statics and non-expected utility preferences
• Parametric characterizations of risk aversion and prudence
• The impact of prudence on optimal prevention
• "Expected Utility" Analysis without the Independence Axiom
• The Dual Theory of Choice under Risk

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