Intertemporal risk aversion – or – wouldn’t it be nice to tell whether Robinson Crusoe is risk averse?

Christian P. Traeger

No 90421, CUDARE Working Papers from University of California, Berkeley, Department of Agricultural and Resource Economics

Abstract: The paper introduces a new notion of risk aversion that is independent of the good under observation and its measure scale. The representational framework builds on a time consistent combination of additive separability on certain consumption paths and the von Neumann & Morgenstern (1944) assumptions. In the one-commodity special case, the new notion of risk aversion closely relates to a disentanglement of standard risk aversion and intertemporal substitutability.

Keywords: Risk; and; Uncertainty (search for similar items in EconPapers)
Pages: 53
Date: 2010-05
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (3)

Downloads: (external link)
https://ageconsearch.umn.edu/record/90421/files/CUDARE%201102%20Traeger.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:ags:ucbecw:90421

DOI: 10.22004/ag.econ.90421

Access Statistics for this paper

More papers in CUDARE Working Papers from University of California, Berkeley, Department of Agricultural and Resource Economics Contact information at EDIRC.
Bibliographic data for series maintained by AgEcon Search ().