Precaution Of Savings Under Uncertain Circumstances

Constantin Anghelache, Aurelian Diaconu and Emilia Stanciu
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Constantin Anghelache: Bucharest University of Economic Studies, „ARTIFEX” University of Bucharest
Aurelian Diaconu: „ARTIFEX” University of Bucharest
Emilia Stanciu: Bucharest University of Economic Studies

Romanian Statistical Review Supplement, 2017, vol. 65, issue 2, 30-37

Abstract: The problem of certainty, of safety which influences the decision-makers’ behaviour is both subjective and objective. In a wide temporal perspective with reference to the full horizon of the decision-maker’s life, the aspects related to the factors that constrain or relax the decisional behavior gather under the umbrella of the subjective definition of resistance and aversion to fluctuations in consumption, but also to risk, thus becaming part of the decision framework in the decision maker’s lifetime. The ratio between consumption and safe decision-making is a factor that ensures the increase or the decrease in consumption. Under unsafe conditions, the decision-maker will incline towards a saving behavi, with the view to ensuring a certain continuity in consumption, but also with the benefit of ensuring his own existenceour.Neither the idea of a cautious behavior, nor that of risky saving is foreign to the decision-maker in such circumstances, that being an issue necessary to define and clarify.

Keywords: income; uncertainty; savings; planning; consumption (search for similar items in EconPapers)
JEL-codes: E20 E21 (search for similar items in EconPapers)
Date: 2017
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