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Precautionary Saving in the Small and in the Large

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NBER1989-02-01 更新2025-01-04 收录
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https://www.nber.org/papers/w2848
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The theory of precautionary saving is shown in this paper to be isomorphic to the Arrow-Pratt theory of risk aversion, making possible the application of a large body of knowledge about risk aversion to precautionary saving, and more generally, to the theory of optimal choice under risk. In
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1989-02-01
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