relative risk aversion or decreasing absolute risk aversion, we prove that (1) the fact that growth is uncertain reduces the …

typically shares in the latter gains via the collection of tax revenues. Hence to the extent the risk discount rate should … reflect the co-variability between the return from public investment and that of the market, we are led to measuring the risk …, 1950-2000, and show that the social risk premium is relatively small vis-à-vis the market. Consequently, the use of the …