HIGHLIGHTS
- who: Eric André from the emlyon business school, Guy de Collongue, CS, Écully , France have published the paper: The impact of risk aversion and ambiguity aversion on annuity and saving choices, in the Journal: (JOURNAL)
- what: From a decision-theoretic point of view the authors show that monotonicity allows one to obtain clear-cut results about the respective roles of risk and ambiguity aversion. To derive the results , the authors focus on a smooth ambiguity model à la Hayashi and Miao , which nests some standard models such as that of Klibanoff et_al or the recursive specification . . .
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