discounting under a disentanglement of risk aversion from aversion to intertemporal substitution. The paper characterizes the … relates different results in the literature by switching between different risk measures. It presents a parametric extension …

discounting under a disentanglement of risk aversion from aversion to intertemporal substitution. The paper characterizes the … relates different results in the literature by switching between different risk measures. It presents a parametric extension …

a recursive dynamic programming framework. Our recursive approach allows us to disentangle effects of risk, risk …

The paper introduces a new notion of risk aversion that is independent of the good under observation and its measure … 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. …

(intertemporal) risk neutrality reduces the growth effect in social discounting and significantly amplifies the importance of risk … and correlation. Second, debate and models largely overlook the difference in attitude with respect to risk and with … respect to non-risk uncertainty. The paper derives the resulting changes of the risk-free and the stochastic social discount …

a recursive dynamic programming framework. Our recursive approach allows us to disentangle effects of risk, risk …

The paper introduces a new notion of risk aversion that is independent of the good under observation and its measure … 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. …

removes an implicit assumption of (intertemporal or intrinsic) risk neutrality from the standard economic model. Second, the … paper introduces aversion to non-risk uncertainty (ambiguity). Ishow a close formal similarity between the model of … intertemporal risk aversion, which is a reformulation of the widespread Epstein-Zin-Weil model, and a recent model of smooth …