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On the conditions for existence of precautionary savings

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  • M. Menegatti

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Abstract

This paper shows that if the signs of the first three derivatives of the utility function are assumed to be invariant in the consumption level, then nonsatiation and risk aversion are sufficient conditions for the presence of precautionary saving. Moreover, a similar set of assumptions ensures that the necessary conditions for decreasing absolute risk aversion and for decreasing absolute prudence are automatically satisfied.

Suggested Citation

  • M. Menegatti, 2000. "On the conditions for existence of precautionary savings," Economics Department Working Papers 2000-EP01, Department of Economics, Parma University (Italy).
  • Handle: RePEc:par:dipeco:2000-ep01
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