학술논문
Precautionary Effort: A New Look.
Document Type
Article
Source
Subject
*Savings
*Economics
*Probability theory
*Risk management in business
*Environmental policy
*Decision making
*Consumption (Economics)
*Risk aversion
*
*
*
*
*
*
*
Language
ISSN
0022-4367
Abstract
While the concept of precautionary saving is well documented, that of precautionary effort has received relatively limited attention. In this note, we set up a two period model in order to analyze the conditions under which the introduction (or deterioration) of an independent background risk increases effort. [ABSTRACT FROM AUTHOR]