Endogenous risks and the risk premium
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Eric Briys; Louis Eeckhoudt; Henri LoubergΓ©
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Article
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1989
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Springer US
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English
β 399 KB
This note tries to correct a deficiency of the microeconomic literature on decision making under uncertainty. Indeed, when considering meaningful comparative statics results in situations where risks are at least partially controllable (endogenous), this literature has mostly relied upon the traditi