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Munich Personal RePEc Archive

Relative risk aversion: increasing or decreasing?

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.

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