Search Results - subject:"Classical demand theory"

The income effect under uncertainty : a Slutsky-like decomposition with risk aversion

Antoniadou, Elena; Mirman, Leonard J.; Santugini, Marc - 2016

Persistent link: https://www.econbiz.de/10011445400

The Income Effect under Uncertainty: a Slutsky-Like Decomposition with Risk Aversion

Antoniadou, Elena; Mirman, Leonard J.; Santugini, Marc - Centre Interuniversitaire sur le Risque, les Politiques … - 2013

We study the effect of changing income on optimal decisions in the multidimensional expected utility framework with strongly separable preferences. Using the Kihlstrom and Mirman (1974) (KM) utility representation, we show that the effect of changing income can be decomposed into a modified...

Persistent link: https://www.econbiz.de/10010728904

On Risk Aversion, Classical Demand Theory, and KM Preferences

Mirman, Leonard J.; Santugini, Marc - Centre Interuniversitaire sur le Risque, les Politiques … - 2011

uncertainty. We completely characterize the relationship between changes in risk aversion and classical demand theory. We show …

Persistent link: https://www.econbiz.de/10009324263