An Analogy between Risk Aversion and Homothetic Production under Certainty
通过类比风险厌恶度量，研究微观决策函数曲率对加总行为的影响，特别是产出价格变化时派生需求与供给的曲率特征，为理解加总问题提供简洁的数学刻画。
Abstract A key component in arguments about aggregation is the curvature of micro‐decision functions. For example, a mean‐preserving spread in the distribution of some parameter across economic agents will decrease aggregate response when each identical microfunction is concave in the parameter. Using this motivation, with the parameter being output price, curvature of derived demands and supplies is examined. Calculations analogous to the Arrow‐Pratt absolute risk aversion measure and its slope are crucial in determining these results in many cases. This allows one to use known results in risk theory to simply characterize curvature.