Saving, Risk Sharing, and Preferences for Risk
分析家庭内部成员风险分担如何影响储蓄决策，发现风险分担可能增加储蓄，且个人风险厌恶和谨慎程度提高反而可能降低家庭整体风险厌恶和谨慎程度，结果与HRS数据一致。
Saving decisions are made jointly by household members who generally earn risky incomes. Consequently, to interpret saving patterns it is crucial to analyze the relationship between intrahousehold risk sharing and intertemporal choices. To that end in this paper the household is characterized as a group of agents with possibly heterogeneous preferences making efficient decisions. Two results are obtained. First, it is shown that risk sharing can increase the amount saved by the household. Second, I find that an increase in risk aversion and prudence of an individual member can reduce household risk aversion and prudence. These results are consistent with the empirical evidence collected using the HRS.