Courbage and Rey (Econ Theory 32:417–424 2007) analyse precautionary saving in the presence of a background risk under specific sets of assumptions on the form of income risk and background risk. Three cases are examined: the case ofindependent risks, the case of Bernoulli-distributed random variables and the case ofrisk first-degree stochastic. For each of these cases Courbage and Rey compute the specific sets of conditions related to precautionary saving. This comment shows that some of their conclusions are partially incorrect.
Precautionary Saving in the Presence of Other Risks: A Comment / Menegatti, Mario. - In: ECONOMIC THEORY. - ISSN 0938-2259. - 39:(2009), pp. 473-476.
Precautionary Saving in the Presence of Other Risks: A Comment
MENEGATTI, Mario
2009-01-01
Abstract
Courbage and Rey (Econ Theory 32:417–424 2007) analyse precautionary saving in the presence of a background risk under specific sets of assumptions on the form of income risk and background risk. Three cases are examined: the case ofindependent risks, the case of Bernoulli-distributed random variables and the case ofrisk first-degree stochastic. For each of these cases Courbage and Rey compute the specific sets of conditions related to precautionary saving. This comment shows that some of their conclusions are partially incorrect.| File | Dimensione | Formato | |
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