An OCE Analysis of the Effect of Uncertainty on Saving Under Risk Preference Independence

DOI10.2307/2297173zbMath0412.90004OpenAlexW2071822656MaRDI QIDQ4199790

Larry Selden

Publication date: 1979

Published in: The Review of Economic Studies (Search for Journal in Brave)

Full work available at URL: https://doi.org/10.2307/2297173

zbMATH Keywords

consumer behaviorexpected utility approachtwo-period settingcapital risksoptimal individual saving decisionsordinal certainty equivalent numeric representation of preferences

Mathematics Subject Classification ID

Utility theory (91B16) Group preferences (91B10) Individual preferences (91B08)

Related Items (14)

Investment in real assets and information acquisition: The OCE preferences case ⋮ Capital risk and consumption puzzles: A pedagogical note ⋮ Tax rate uncertainty and the sensitivity of consumption to income in an overlapping generations model ⋮ Risk neutrality regions ⋮ Portfolio choice with non-expected utility in continuous time ⋮ A measure of the sensitivity of saving to interest rate uncertainty with non-expected preferences ⋮ Stock markets and growth ⋮ Aggregate savings under quasi-hyperbolic versus exponential discounting ⋮ Price uncertainty, saving, and welfare ⋮ A note on demand for information: The OCE preferences case ⋮ How do changes in risk and risk aversion affect self-protection with Selden/Kreps-Porteus preferences? ⋮ Nonexpected utility preferences in a temporal framework with an application to consumption-savings behaviour ⋮ Time preferences, conditional risk preference, and two-period cardinal utility ⋮ Uncertain lifetime, risk aversion and intertemporal substitution

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