Document Type
Other
Source Publication
Social Science Research Network
Publication Date
9-17-2014
Keywords
Precautionary saving, Prudence, Selden/Kreps-Porteus Preferences
Abstract
This paper re-examines precautionary saving with general Selden/Kreps-Porteus preferences. The conditions existing in the literature are much more complex than in the Expected Utility framework. We obtain a simple and intuitive result on precautionary savings via disentangling time preference and risk preference effects.
DOI
10.2139/ssrn.2458316
Publisher Statement
Copyright © 2014 Social Science Electronic Publishing, Inc
Access to external full text or publisher's version may require subscription.
Full-text Version
Publisher’s Version
Language
English
Recommended Citation
Li, J., & Wang, J. (2014). Precautionary saving with Selden/Kreps-Porteus preferences revisited. Social Science Research Network. Retrieved from http://dx.doi.org/10.2139/ssrn.2458316
