Precautionary saving with Selden/Kreps-Porteus preferences revisited
نویسندگان
چکیده
This paper re-examines precautionary saving with general Selden/Kreps-Porteus preferences. The conditions existing in the literature are much more complex than in the Expected Utility framework. We obtain a simple and intuitive result on precautionary savings via disentangling time preference and risk preference effects.
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