When does an individual's expected wealth accumulation profile increase as earnings risk increases? This paper answers this question for multi-period models where earnings shocks are independent over time. Sufficient conditions are stated in terms of properties of a decision rule for savings and, alternatively, in terms of properties of preferences. Classification-JEL: D80, D90, E21
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Paper provided by Georgetown University, Department of Economics in its series Working Papers with number
gueconwpa~01-01-13.
Length: Date of creation: 01 Nov 2001 Date of revision: Handle: RePEc:geo:guwopa:gueconwpa~01-01-13
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