Poverty Measurement Under Risk Aversion Using Panel Data
نویسندگان
چکیده
منابع مشابه
Relative Risk Aversion Is Constant: Evidence from Panel Data
Most classical tests of constant relative risk aversion (CRRA) based on individual portfolio composition use cross sectional data. Such tests must assume that the distributions of wealth and preferences are independent. We use panel data to analyze how individuals’ portfolio allocation between risky and riskless assets varies in response to changes in total financial wealth. We find the elastic...
متن کاملMicrofinance and Poverty: Evidence Using Panel Data from Bangladesh
Microfinance supports mainly informal activities that often have a low return and low market demand. It may therefore be hypothesized that the aggregate poverty impact of microfinance is modest or even nonexistent. If true, the poverty impact of microfinance observed at the participant level represents either income redistribution or short-run income generation from the microfinance interventio...
متن کاملMeasurement biases in panel data
. The objective of this paper is to examine reporting errors in panel data obtained from multi-day travel diaries. A distinction is made between within and between wave biases. The former leads to an increase in under-reporting associated with the number of days the diary is kept. The latter is related to the number of waves respondents have been participating, so-called panel experience. These...
متن کاملThe optimal harvesting problem under risk aversion ∗
We study the exploitation of a one species forest plantation when timber price is uncertain. The work focuses on providing optimality conditions for the optimal harvesting policy in terms of the parameters of the price process and the discount factor. We use risk averse stochastic dynamic programming and use the Conditional Value-at-Risk (CVaR) as our main risk measure. We consider two importan...
متن کاملDuopolistic competition under risk aversion and uncertainty
A monopolist typically defers entry into an industry as both price uncertainty and the level of relative risk aversion increase. The former attribute may be present in most deregulated industries, while the latter may be relevant for reasons of market incompleteness or the presence of technical uncertainty. By contrast, it has been shown that the presence of a rival hastens entry under risk neu...
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
ژورنال
عنوان ژورنال: Contributions in Economic Analysis & Policy
سال: 2004
ISSN: 1538-0645
DOI: 10.2202/1538-0645.1194