Risk Aversion over Incomes and Risk Aversion over Commodities

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Risk Aversion over Incomes and Risk Aversion over Commodities

Author Info

Juan E. Martinez-Legaz () (Departament d'Economia i d'Historia Economica and CODE, Universitat Autonoma de Barcelona)
John K.-H. Quah () (St Hugh's College, Oxford University)

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Abstract

This note determines the precise connection between an agent's attitude towards income risks and his attitude over risks in the underlying consumption space. Our results follow a general mathematical theory connecting the curvature properties of an objective function with the ray-curvature properties of its dual.

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Publisher Info
Paper provided by Economics Group, Nuffield College, University of Oxford in its series Economics Papers with number 2003-W09.

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Length: 14 pages
Date of creation: 18 Mar 2003
Date of revision:
Handle: RePEc:nuf:econwp:0309

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Web page: http://www.nuff.ox.ac.uk/economics/

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Find related papers by JEL classification:
C61 - Mathematical and Quantitative Methods - - Mathematical Methods and Programming - - - Optimization Techniques; Programming Models; Dynamic Analysis
D11 - Microeconomics - - Household Behavior - - - Consumer Economics: Theory
D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty

This paper has been announced in the following NEP Reports:

NEP-ALL-2003-03-25 (All new papers)
NEP-RMG-2003-03-25 (Risk Management)

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:

John K.-H. Quah, 2000. "The Monotonicity of Individual and Market Demand," Econometrica, Econometric Society, vol. 68(4), pages 911-930, July.
Other versions:
- Quah, J-K-H, 1996. "The Monotonicity of Individual and Market Demand," Economics Papers 127, Economics Group, Nuffield College, University of Oxford.

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