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On the stability of the constant relative risk aversion (CRRA) under high degrees of uncertainty

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On the stability of the constant relative risk aversion (CRRA) under high degrees of uncertainty. / Niguez, Trino-Manuel; Paya, Ivan; Peel, David et al.
In: Economics Letters, Vol. 115, No. 2, 05.2012, p. 244-248.

Research output: Contribution to Journal/Magazine › Journal article › peer-review

Harvard

Niguez, T-M, Paya, I, Peel, D & Perote, J 2012, 'On the stability of the constant relative risk aversion (CRRA) under high degrees of uncertainty', Economics Letters, vol. 115, no. 2, pp. 244-248. https://doi.org/10.1016/j.econlet.2011.12.049

APA

Niguez, T-M., Paya, I., Peel, D., & Perote, J. (2012). On the stability of the constant relative risk aversion (CRRA) under high degrees of uncertainty. Economics Letters, 115(2), 244-248. https://doi.org/10.1016/j.econlet.2011.12.049

Vancouver

Niguez T-M, Paya I, Peel D, Perote J. On the stability of the constant relative risk aversion (CRRA) under high degrees of uncertainty. Economics Letters. 2012 May;115(2):244-248. doi: 10.1016/j.econlet.2011.12.049

Author

Niguez, Trino-Manuel ; Paya, Ivan ; Peel, David et al. / On the stability of the constant relative risk aversion (CRRA) under high degrees of uncertainty. In: Economics Letters. 2012 ; Vol. 115, No. 2. pp. 244-248.

Bibtex

@article{b1e6a79b0ca14e358b82c912ef2d7511,
title = "On the stability of the constant relative risk aversion (CRRA) under high degrees of uncertainty",
abstract = "Growth models under uncertainty and constant relative risk aversion (CRRA) utility are fragile in explaining consumers{\textquoteright} choice, as equilibrium consumption is dependent on distributional assumptions. We show that, under semi-nonparametric distributions, general equilibrium models are stable, as the existence of expected utility is guaranteed.",
author = "Trino-Manuel Niguez and Ivan Paya and David Peel and Javier Perote",
year = "2012",
month = may,
doi = "10.1016/j.econlet.2011.12.049",
language = "English",
volume = "115",
pages = "244--248",
journal = "Economics Letters",
issn = "0165-1765",
publisher = "Elsevier",
number = "2",

}

RIS

TY - JOUR

T1 - On the stability of the constant relative risk aversion (CRRA) under high degrees of uncertainty

AU - Niguez, Trino-Manuel

AU - Paya, Ivan

AU - Peel, David

AU - Perote, Javier

PY - 2012/5

Y1 - 2012/5

N2 - Growth models under uncertainty and constant relative risk aversion (CRRA) utility are fragile in explaining consumers’ choice, as equilibrium consumption is dependent on distributional assumptions. We show that, under semi-nonparametric distributions, general equilibrium models are stable, as the existence of expected utility is guaranteed.

AB - Growth models under uncertainty and constant relative risk aversion (CRRA) utility are fragile in explaining consumers’ choice, as equilibrium consumption is dependent on distributional assumptions. We show that, under semi-nonparametric distributions, general equilibrium models are stable, as the existence of expected utility is guaranteed.

U2 - 10.1016/j.econlet.2011.12.049

DO - 10.1016/j.econlet.2011.12.049

M3 - Journal article

VL - 115

SP - 244

EP - 248

JO - Economics Letters

JF - Economics Letters

SN - 0165-1765

IS - 2

ER -