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 « preference for late resolution of uncertainty coefficient », which has been defined before. [fre] Allocation optimale des ressources et préférences à la Selden-Kreps et Porteus. . Cet article étudie la forme des allocations optimales des ressources dans une économie productive avec rendements constants. Nous considérons des individus munis de préférences à la Selden-Kreps et Porteus, préférences généralisant le cas d'espérance d'utilité. Nous montrons que les dotations finales s'expriment non seulement en fonction des ressources initiales agrégées de l'état de la nature considéré mais également en fonction de toutes les ressources agrégées dans chaque état. La caractérisation des allocations optimales s'écrit alors en fonction des tolérances pour le risque individuelles mais aussi de coefficients de préférences pour la résolution tardive que nous aurons définis précédemment.Download Info
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Bibliographic Info
Article provided by Programme National Persée in its journal Revue économique.
Volume (Year): 49 (1998)
Issue (Month): 4 ()
Pages: 967-987
Note: DOI:10.2307/3502604
Contact details of provider:
Web page: http://www.persee.fr/web/revues/home/prescript/revue/reco
Related research
Keywords:Other versions of this item:
- Johanna Etner, 1998. "Allocation optimale des ressources et préférences à la Selden-Kreps et Porteus," Revue économique, Presses de Sciences-Po, vol. 0(4), pages 967-987.
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