Risk Aversion over Incomes and Risk Aversion over Commodities
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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- Quah, J-K-H, 1996.
"The Monotonicity of Individual and Market Demand,"
127, Economics Group, Nuffield College, University of Oxford.
- Mas-Colell,Andreu, 1985.
"The Theory of General Economic Equilibrium,"
Cambridge University Press, number 9780521265140, October.
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