https://scholars.lib.ntu.edu.tw/handle/123456789/414448
DC 欄位 | 值 | 語言 |
---|---|---|
dc.contributor.author | Tzeng L.Y. | en_US |
dc.contributor.author | Wang J.-H. | en_US |
dc.creator | Wang J.-H.;Tzeng L.Y. | - |
dc.date.accessioned | 2019-07-22T07:00:40Z | - |
dc.date.available | 2019-07-22T07:00:40Z | - |
dc.date.issued | 2004 | - |
dc.identifier.issn | 01486195 | - |
dc.identifier.uri | https://scholars.lib.ntu.edu.tw/handle/123456789/414448 | - |
dc.description.abstract | This paper extends the traditional unambiguous comparative statics analysis of an increase in risk into the case where individual's utility is a function of two goods rather than of a payoff only. Specifically, we use saving behavior to demonstrate the application of the extension. We find that a first-order stochastic dominance of rate of return causes a nonsatiable and risk-averse borrower to increase his borrowing. A mean-preserving second-order stochastic dominance of rate of return causes a borrower, who is risk-averse and prudent, to decrease his borrowing. Furthermore, we find that a stronger central risk dominance leads a nonsatiable and risk-averse lender to decrease his saving. Last, for the mean-preserving CDF shifts, we give a necessary and sufficient condition for all risk-averse lenders (respectively, borrowers) to decrease their saving (respectively, borrowing). ? 2004 Elsevier Inc. All rights reserved. | - |
dc.language | English | - |
dc.relation.ispartof | Journal of Economics and Business | - |
dc.subject | Central risk dominance | - |
dc.subject | Increase in risk | - |
dc.subject | Saving | - |
dc.subject | Stochastic dominance | - |
dc.title | Increase in risk and saving behavior | en_US |
dc.type | journal article | en |
dc.identifier.doi | 10.1016/j.jeconbus.2004.01.004 | - |
dc.identifier.scopus | 2-s2.0-4444304074 | - |
dc.identifier.url | https://www.scopus.com/inward/record.uri?eid=2-s2.0-4444304074&doi=10.1016%2fj.jeconbus.2004.01.004&partnerID=40&md5=9cc5901b160a741d5ef6f528123cd67b | - |
dc.relation.pages | 405-414 | - |
dc.relation.journalvolume | 56 | - |
dc.relation.journalissue | 5 | - |
item.openairetype | journal article | - |
item.fulltext | no fulltext | - |
item.openairecristype | http://purl.org/coar/resource_type/c_6501 | - |
item.grantfulltext | none | - |
item.cerifentitytype | Publications | - |
crisitem.author.dept | Finance | - |
crisitem.author.dept | Center for Research in Econometric Theory and Applications (CRETA) | - |
crisitem.author.parentorg | College of Management | - |
crisitem.author.parentorg | Others: University-Level Research Centers | - |
顯示於: | 財務金融學系 |
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