Chateauneuf, A.; Lakhnati, G.; Langlais, E. - Institut de Préparation à l'Administration et à la … - 2014
In this paper we deal with the basic two-period consumption saving problem where the first and second period consumption utility, v and u is assumed to be concave re- spectively as usually. We prove that for the rank dependent utility model, prudence is fully characterized by the convexity of u/...
