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.
|Date of creation:||01 Mar 2003|
|Date of revision:|
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- Mas-Colell,Andreu, 1990.
"The Theory of General Economic Equilibrium,"
Cambridge University Press, number 9780521388702, 1.
- Quah, J-K-H, 1996.
"The Monotonicity of Individual and Market Demand,"
127, Economics Group, Nuffield College, University of Oxford.
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