Saving motives and multivariate precautionary premia

Christophe Courbage ()

Decisions in Economics and Finance, 2014, vol. 37, issue 2, 385-391

Abstract: This paper extends the concept of precautionary premium to a multivariate setting so as to measure the intensity of the precautionary saving motive to protect against multivariate risks. This makes it possible to disentangle and to link the various motives of precautionary saving depending on the configuration of the risks the individual wants to protect against. Copyright Springer-Verlag Italia 2014

Keywords: Precautionary premium; Saving; Multivariate utility function; Prudence; Super-additivity; D81 (search for similar items in EconPapers)
Date: 2014
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DOI: 10.1007/s10203-013-0149-7

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