Interemporal Risk Aversion - or - Wouldn't it be Nice to Tell Whether Robinson Crusoe is Risk

The paper introduces a new notion of risk aversion that is independent of the good under observation and its measure scale. The representational framework builds on a time consistent combination of additive separability on certain consumption paths and the von Neumann & Morgenstern (1944) assumptions. In the one-commodity special case, the new notion of risk aversion closely relates to a disentanglement of standard risk aversion and intertemporal substitutability.

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Year of publication:	2011-12-08
Authors:	Traeger, Christian P.
Institutions:	Department of Agricultural and Resource Economics, University of California-Berkeley
Subject:	uncertainty \| expected utility \| recursive utility \| risk aversion \| intertemporal substitutability \| certainty additivity \| temporal lotteries \| gauge-freedom \| intertemporal risk aversion \| Social and Behavioral Sciences

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Extent:	application/pdf
Series:	Department of Agricultural & Resource Economics, UC Berkeley, Working Paper Series.
Type of publication:	Book / Working Paper
Notes:	The text is part of a series Department of Agricultural and Resource Economics, UCB
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10010676514