Wouldn ’ t it be Nice to Tell Whether Robinson is Risk Averse ?

نویسنده

  • Christian P. TRAEGER
چکیده

The paper introduces a new notion of risk aversion that is independent of the good under observation and its measure scale. The representational framework builds on a time consistent combination of additive separability on certain consumption paths and the von Neumann & Morgenstern (1944) assumptions. In the one-commodity special case, the new notion of risk aversion closely relates to a disentanglement of standard risk aversion and intertemporal substitutability.

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تاریخ انتشار 2007