Optimal prevention and prudence in a two-period model
This work shows that in a two-period framework, prudence has an increasing effect on optimal prevention. This conclusion is the opposite to that obtained in a one-period framework [Eeckhoudt and Gollier, Economic Theory 26 (2005), 989-994]. This is due to the opposite effect of prevention on wealth in the period where the risk occurs.
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|Date of creation:||2008|
|Date of revision:|
|Contact details of provider:|| Postal: Via J.F. Kennedy 6, 43100 PARMA (Italy)|
Web page: http://economia.unipr.it/de
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Cahiers de recherche
8424, Universite de Montreal, Departement de sciences economiques.
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"Putting Risk in Its Proper Place,"
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Palgrave Macmillan;International Association for the Study of Insurance Economics (The Geneva Association), vol. 24(1), pages 19-28, June.
- Bruno Jullien & Bernard Salanié & François Salanié, 1998. "Should More Risk-Averse Agents Exert More Effort," Working Papers 98-12, Centre de Recherche en Economie et Statistique.
- Jullien, B. & Salanie, B. & Salanie, F., 1998. "Should More Risk-Averse Agents Exert More Effort?," Papers 98.489, Toulouse - GREMAQ.
- L. Eeckhoudt & C. Gollier, 2005.
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- Ehrlich, Isaac & Becker, Gary S, 1972. "Market Insurance, Self-Insurance, and Self-Protection," Journal of Political Economy, University of Chicago Press, vol. 80(4), pages 623-48, July-Aug..
- M. Menegatti, 2007. "A new interpretation for the precautionary saving motive: a note," Journal of Economics, Springer, vol. 92(3), pages 275-280, December.
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