Precautionary Saving and Endogenous Labor Supply with and without Intertemporal Expected Utility
在劳动与非劳动收入风险、内生劳动供给的框架下，使用分离风险态度、跨期替代态度及消费与休闲偏好的偏好表示，直观描述了决定预防性储蓄的不同力量。
We analyze precautionary saving behavior in a framework with labor and nonlabor income risks, an endogenous supply of labor, and a representation of preferences that disentangles attitudes toward risk, attitudes toward intertemporal substitution, and ordinal preferences for consumption and leisure. This preference structure allows us to disentangle and to describe in an intuitive way the different forces that determine precautionary saving “in the small” and “in the large.”