Life-Cycle Theory for Human Beings
نویسنده
چکیده
Human beings are sure to die but do not know when they will die. This paper proposes a general formulation of life cycle theory that accounts for these two fundamental aspects of human life. We stress in particular the role of intertemporal correlation aversion which it is a key concept to understand the role of mortality risks in intertemporal choices.
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تاریخ انتشار 2009