随机收入下的预防性努力投资决策研究

Investment Decision-Making on Precautionary Effort Conditional on Random Income

在随机收入下的预防性努力投资决策问题中,基于约束的Ross更加风险厌恶的刻画,本文获得了与个体风险偏好相一致的比较静态结果:不管在现期的还是跨期的预防性努力决策问题中,在相应的充分条件下,一个约束的Ross更加风险厌恶的个体总是投资更多的预防性努力.本文推广了确定收入下有关预防性努力投资决策的现有结果.

In the investment decision-making problem on precautionary effort with random income,based on the perspective of restricted Ross more risk aversion,this paper obtains some comparative static results consistent with individual's risk prefer-ences:Whether the temporal or not the intertemporal decision-making problems on precautionary effort,under corresponding sufficient conditions,a restricted Ross more risk averse individual always invests more in precautionary effort,thus this paper gen-eralizes the existing results on precautionary effort under certain income.