La notion économique de prudence. Origine et développements récents
The formal definition of the term « prudence » in economics is due to Kimball . Since then the notion of prudence is linked to the choice of a level of precautionary saving while risk aversion remains perceived as a preference towards a risky situation. In this paper ?' after a survey of other publications than that of Kimball ?' we show that prudence can also be interpreted as a preference towards risk. We also show that prudence can be used to analyse insurance decisions as well as saving ones.Classification JEL : D81
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