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

DOI10.1007/S00199-015-0883-XMaRDI QIDQ2634142zbMATH OpenOpenAlexFDO

Authors 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

local weak prudencepessimismprudenceRDU modelstrong risk aversion

Mathematics Subject Classification ID

Utility theory (91B16)

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Cites work

• "Expected Utility" Analysis without the Independence Axiom
• Comonotonicity axioms and rank-dependent expected utility theory for arbitrary consequences
• Comparative statics and non-expected utility preferences
• Comparative statics for rank-dependent expected utility theory
• scientific article; zbMATH DE number 4108446 (Why is no real title available?)
• scientific article; zbMATH DE number 3342731 (Why is no real title available?)
• More on parametric characterizations of risk aversion and prudence
• Non-additive measure and integral
• Parametric characterizations of risk aversion and prudence
• Risk aversion in the theory of expected utility with rank dependent probabilities
• Risk seeking with diminishing marginal utility in a non-expected utility model
• Saving under rank-dependent utility
• Separating marginal utility and probabilistic risk aversion
• The Dual Theory of Choice under Risk
• The economics of risk and time
• The impact of prudence on optimal prevention

Cited in

(6)

• Apportioning of risks via stochastic dominance
• Saving under rank-dependent utility
• Optimal attention and heterogeneous precautionary saving behavior
• On multivariate prudence
• Lattice-based monotone comparative statics on saving with Selden/Kreps-Porteus preferences
• Precautionary saving and risk aversion: an anticipated utility approach

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