Jointly radial and translation homothetic preferences: generalized constant risk aversion

Robert Chambers (), Rolf Färe and John Quiggin

Economic Theory, 2004, vol. 23, issue 3, 689-699

Abstract: The paper identifies the structural restrictions on preferences required for them to exhibit both translation homotheticity in particular direction and radial homotheticity. The results are illustrated by an application to an asset allocation problem in the absence of riskless asset. Copyright Springer-Verlag Berlin/Heidelberg 2004

Keywords: Translation homotheticity; Radial homotheticity. (search for similar items in EconPapers)
Date: 2004
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DOI: 10.1007/s00199-003-0386-z

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