Multivariate Risk Independence and Functional Forms for Preferences and Technologies
研究在不确定性下,消费者和生产者行为比较静态效应的复杂性,提出风险独立性假设以简化效应,并刻画与之一致的偏好和技术形式,对偶理论是关键工具。
The comparative static effects of increased uncertainty in standard two-period models of consumer and producer behavior under uncertainty have been shown in [10 and 11] to be complex. Two principal objectives of this paper are: (i) to describe some assumptions, forms of risk independence, about preferences and technologies, that simplify the behavioral effects of increased variability; and (ii) to characterize the preferences and technologies that are consistent with risk independence. The theory of duality plays an important part in the analysis.