Browsing College of Arts and Science by Subject "JEL Classification Number: D81"

Now showing items 1-5 of 5

    • Consumption smoothing and the equity premium 
      Eden, Benjamin (Vanderbilt University, 2010)
      Abstract: The paper investigates the role of the Intertemporal Elasticity of Substitution () in determining the equity premium. This is done in an overlapping generations economy populated by agents that live for 2 periods ...
    • Hicksian Surplus Measures of Individual Welfare Change When There is Price and Income Uncertainty 
      Blackorby, Charles; Donaldson, David; Weymark, John A. (Vanderbilt University, 2006)
      This article considers measures of individual welfare change for projects that change the state distribution of prices and incomes. For a consumer whose preferences satisfy the expected utility hypothesis, we investigate ...
    • Measurement Theory and the Foundations of Utilitarianism 
      Weymark, John A. (Vanderbilt University, 2005)
      This article reconsiders the Harsanyi-Sen debate concerning whether Harsanyi is justified in interpreting his Aggregation and Impartial Observer Theorems as providing axiomatizations of utilitarianism. Sen's criticism and ...
    • Shared Destinies and the Measurement and of Social Risk Equity 
      Gajdos, Thibault; Weymark, John A.; Zoli, Claudio (Vanderbilt University, 2008)
      The evaluation of social risk equity for alternative probability distributions over the potential sets of fatalities is analyzed axiomatically. Fishburn and Straffin [Equity considerations in public risks valuation, ...
    • Substitution, Risk Aversion and Asset Prices: An Expected Utility Approach 
      Eden, Benjamin (Vanderbilt University, 2008)
      The standard power utility function is widely used to explain asset prices. It assumes that the coefficient of relative risk aversion is the inverse of the elasticity of substitution. Here I use the Kihlstrom and Mirman ...