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La notion économique de prudence. Origine et développements récents

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  • David Crainich
  • Louis Eeckhoudt

Abstract

The formal definition of the term « prudence » in economics is due to Kimball [1990]. Since then the notion of prudence is linked to the choice of a level of precautionary saving while risk aversion remains perceived as a preference towards a risky situation. In this paper ?after a survey of other publications than that of Kimball ?we show that prudence can also be interpreted as a preference towards risk. We also show that prudence can be used to analyse insurance decisions as well as saving ones.Classification JEL : D81

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Article provided by Presses de Sciences-Po in its journal Revue économique.

Volume (Year): 56 (2005)
Issue (Month): 5 ()
Pages: 1021-1032

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Handle: RePEc:cai:recosp:reco_565_1021

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  1. repec:hal:wpaper:halshs-00585994 is not listed on IDEAS
  2. Luc Arrondel & Hector Calvo Pardo, 2008. "Les Français sont-ils prudents ? Patrimoine et risque sur les revenus des ménages," PSE Working Papers halshs-00585994, HAL.

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