Precautionary Saving with Changing Income Ambiguity
We study a two-period saving model where theagent’s future income might be ambiguous. Our agent has a version of the smoothambiguity decision criterion (Klibano, Marinacci and Mukerji (2005)), where theagent’s perception about ambiguity is described by a second-order belief overfirst-order risks. We...
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| Main Authors: | , |
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| Format: | text |
| Language: | English |
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Institutional Knowledge at Singapore Management University
2016
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| Subjects: | |
| Online Access: | https://ink.library.smu.edu.sg/soe_research/1905 https://ink.library.smu.edu.sg/context/soe_research/article/2904/viewcontent/Precautionary_saving_with_changing_income_ambiguity.pdf |
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| Institution: | Singapore Management University |
| Language: | English |