Allocation optimale des ressources et préférences à la Selden-Kreps et Porteus
Abstract[eng] Optimal resources allocations and selden - Kreps & Porteus' preferences. . This paper studies the optimal resources allocations in a productive economy with constant returns. We consider individuals with Selden - Kreps and Porteus' preferences, this class of preferences includes the case of expected utility. For a fixed state of nature, we show that final endowments are not only functions of initial aggregate endowments on this state, but functions of any aggregate endowments on any state too. Then, the optimal allocations characterization is written as a function of the inverse of individual absolute risk aversion and as a function of individual Â« preference for late resolution of uncertainty coefficient Â», which has been defined before. [fre] Allocation optimale des ressources et prÃ©fÃ©rences Ã la Selden-Kreps et Porteus. . Cet article Ã©tudie la forme des allocations optimales des ressources dans une Ã©conomie productive avec rendements constants. Nous considÃ©rons des individus munis de prÃ©fÃ©rences Ã la Selden-Kreps et Porteus, prÃ©fÃ©rences gÃ©nÃ©ralisant le cas d'espÃ©rance d'utilitÃ©. Nous montrons que les dotations finales s'expriment non seulement en fonction des ressources initiales agrÃ©gÃ©es de l'Ã©tat de la nature considÃ©rÃ© mais Ã©galement en fonction de toutes les ressources agrÃ©gÃ©es dans chaque Ã©tat. La caractÃ©risation des allocations optimales s'Ã©crit alors en fonction des tolÃ©rances pour le risque individuelles mais aussi de coefficients de prÃ©fÃ©rences pour la rÃ©solution tardive que nous aurons dÃ©finis prÃ©cÃ©demment.
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Bibliographic InfoArticle provided by Presses de Sciences-Po in its journal Revue économique.
Volume (Year): n° 49 (1998)
Issue (Month): 4 ()
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Web page: http://www.cairn.info/revue-economique.htm
Other versions of this item:
- Johanna Etner, 1998. "Allocation optimale des ressources et prÃ©fÃ©rences Ã la Selden-Kreps et Porteus," Revue Ã‰conomique, Programme National PersÃ©e, vol. 49(4), pages 967-987.
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