Precautionary saving in the presence of other risks

被引：39
|
作者：
Courbage, Christophe
Rey, Beatrice
机构：
[1] Geneva Assoc, CH-1201 Geneva, Switzerland
[2] Univ Lyon 1, Actuarial Inst Lyon, F-69007 Lyon, France
来源：
ECONOMIC THEORY | 2007年 / 32卷 / 02期
关键词：
precautionary saving; background risk; prudence; correlated risks; bivariate utility function;
D O I：
10.1007/s00199-006-0178-3
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
u Does the sign of the third derivative of the utility function with respect to wealth still govern precautionary saving motives in the presence of a background risk? This article shows that some other properties of the utility function have also to be considered depending on the serial correlation existing between the background risk and the future income risk.
引用
收藏
页码：417 / 424
页数：8
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