Article ID | Journal | Published Year | Pages | File Type |
---|---|---|---|---|
5059877 | Economics Letters | 2012 | 5 Pages |
Abstract
⺠Growth models under uncertainty and constant relative risk aversion are fragile in explaining consumers' choice. ⺠We assume a semi-nonparametric distribution for log-consumption. ⺠Consistency in choice theory under uncertainty and Bayesian learning is recovered.
Related Topics
Social Sciences and Humanities
Economics, Econometrics and Finance
Economics and Econometrics
Authors
Trino-Manuel ÃÃguez, Ivan Paya, David Peel, Javier Perote,