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Precautionary saving in the presence of other risks

✍ Scribed by Christophe Courbage; Béatrice Rey


Publisher
Springer
Year
2006
Tongue
English
Weight
111 KB
Volume
32
Category
Article
ISSN
0938-2259

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📜 SIMILAR VOLUMES


An analytical approximate solution to th
✍ Gabriel Talmain 📂 Article 📅 1998 🏛 Elsevier Science 🌐 English ⚖ 120 KB

This paper considers the problem of precautionary savings for an expected utility specification with finite horizon. The exact solution is known for only a few cases. Numerical methods have limited applications because of Bellman's 'curse of dimensionality'. This paper derives a simple analytical ap