The consumer’s demand functions defined to study contingent consumption plans

نویسندگان

چکیده

Abstract Given two probability distributions expressing returns on single risky assets of a portfolio, we innovatively define consumer’s demand functions connected with contingent consumption plans. This thing is possible whenever coherently summarize every distribution being chosen by the consumer. Since prevision choices are made consumer inside metric space, show that can be studied means standard economic model behavior. Such implies consider all coherent previsions joint distribution. They decomposed space. space coincides In this paper, do not only. It follows stand-alone and double asset. Different summary measures it characterizing then linear over $${\mathbb {R}}$$ R . We to obtain different using quadratic metrics. our results based particular approach origin variability distributions. realize standardized, but always depends state information knowledge

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ژورنال

عنوان ژورنال: Quality & Quantity

سال: 2021

ISSN: ['0033-5177', '1573-7845']

DOI: https://doi.org/10.1007/s11135-021-01170-2