Footnote:
Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments September 17, 2014 erstellt
Description:
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