Graves, Philip E. (1979): Relative risk aversion: increasing or decreasing? Published in: Journal of Financial and Quantitative Economics , Vol. XIV, No. 2 : pp. 205-214.
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Abstract
While there is no abstract for this paper, it makes an argument that relative risk aversion is decreasing in wealth rather than increasing in wealth as hypothesized by Arrow, using the money demand findings of Friedman.
Item Type: | MPRA Paper |
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Original Title: | Relative risk aversion: increasing or decreasing? |
Language: | English |
Keywords: | relative risk aversion; portfolio analysis; money demand; cash proportions; velocity of money |
Subjects: | D - Microeconomics > D8 - Information, Knowledge, and Uncertainty > D81 - Criteria for Decision-Making under Risk and Uncertainty E - Macroeconomics and Monetary Economics > E4 - Money and Interest Rates D - Microeconomics > D1 - Household Behavior and Family Economics > D14 - Household Saving; Personal Finance |
Item ID: | 19909 |
Depositing User: | Philip E. Graves |
Date Deposited: | 11 Jan 2010 07:42 |
Last Modified: | 02 Oct 2019 20:53 |
References: | Arrow, K.J. "Aspects of the theory of risk-bearing" Lecture 2. Yrjo Jahnsson lectures. Helsinki: Yrjo Jahnsson foundation, 1965. Friedman, M. "The demand for money: some theoretical and empirical results," Journal of Political Economy, Vol. 67, (1959), 327-351. Graves, P.E. "New Evidence on Income and the Velocity of Money." Economic Inquiry, Vol. XVI, No. 1 (January 1978), pp. 53-68. Graves, P.E. "Wealth and the Cash Asset Proportion." Journal of Money, Credit and Banking, Vol. VIII, No. 4 (November 1976), pp. 487-496. Markowitz, H. Portfolio Selection. New Haven: Yale University Press, 1959. |
URI: | https://mpra.ub.uni-muenchen.de/id/eprint/19909 |