A Note on the Relation between Risk Aversion, Intertemporal Substitution and Timing of the Resolution of Uncertainty
AbstractEpstein and Zin (1989) axiomatization allows the distinction between risk aversion and intertemporal substitution. Kreps and Porteus (1978) one introduces the concept of timing of resolution of uncertainty. This paper proposes to generalize the link between these three concepts.
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Bibliographic InfoArticle provided by Society for AEF in its journal Annals of Economics and Finance.
Volume (Year): 7 (2006)
Issue (Month): 2 (November)
Risk aversion; Intertemporal substitution; Timing of the resolution of uncertainty;
Find related papers by JEL classification:
- D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty
- D9 - Microeconomics - - Intertemporal Choice
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