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Relative risk aversion: increasing or decreasing?

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Author Info

  • Graves, Philip E.

Abstract

While there is no abstract for this paper, it makes an argument that relative risk aversion is decreasing in wealth rather than increasing in wealth as hypothesized by Arrow, using the money demand findings of Friedman.

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File URL: http://mpra.ub.uni-muenchen.de/19909/
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Bibliographic Info

Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 19909.

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Date of creation: Jun 1979
Date of revision:
Handle: RePEc:pra:mprapa:19909

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Related research

Keywords: relative risk aversion; portfolio analysis; money demand; cash proportions; velocity of money;

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References

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  1. Milton Friedman, 1959. "The Demand for Money: Some Theoretical and Empirical Results," NBER Books, National Bureau of Economic Research, Inc, number frie59-1, October.
  2. Graves, Philip E, 1976. "Wealth and Cash Asset Proportions," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 8(4), pages 487-96, November.
  3. Graves, Philip E, 1978. "New Evidence on Income and the Velocity of Money," Economic Inquiry, Western Economic Association International, vol. 16(1), pages 53-68, January.
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Citations

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Cited by:
  1. Sun, Qian & Tong, Wilson H.S., 2010. "Risk and the January effect," Journal of Banking & Finance, Elsevier, vol. 34(5), pages 965-974, May.
  2. Graves, Philip E., 1980. "The velocity of money: evidence for the U.K. 1911-1966," MPRA Paper 19900, University Library of Munich, Germany.
  3. Chaigneau, Pierre, 2013. "Explaining the structure of CEO incentive pay with decreasing relative risk aversion," Journal of Economics and Business, Elsevier, vol. 67(C), pages 4-23.

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