Broll, Udo; Roldán-Ponce, Antonio; Wahl, Jack E. - Fakultät Wirtschaftswissenschaften, Technische … - 2010
spatial concentration of economic activity depends upon properties of risk preferences deeper than risk aversion. The degree … of so-called relative prudence unambiguously decides whether or not the diversi cation of income risk favours the … geographic dispersion of economic activity. In our framework we relate risk diversi cation with economic integration. Then there …