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American Economic Review: Vol. 103 No. 4 (June 2013)

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Even (Mixed) Risk Lovers Are Prudent

Article Citation

Crainich, David, Louis Eeckhoudt, and Alain Trannoy. 2013. "Even (Mixed) Risk Lovers Are Prudent." American Economic Review, 103(4): 1529-35.

DOI: 10.1257/aer.103.4.1529

Abstract

The purpose of this note is to analyze properties of the risk lovers’ utility function beyond the positive sign of its second order derivative. We show that––contrarily to a priori beliefs––risk lovers are prudent and are willing to accumulate precautionary savings.

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Authors

Crainich, David (CNRS and IESEG School of Management, Lille)
Eeckhoudt, Louis (CORE, Catholic U Louvain and IESEG School of Management, Lille)
Trannoy, Alain (Aix-Marseille U and EHESS, Marseille)

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D81: Criteria for Decision-Making under Risk and Uncertainty


American Economic Review


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