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dc.contributor.authorBroll, Udoen_US
dc.contributor.authorRoldán-Ponce, Antonioen_US
dc.contributor.authorWahl, Jack E.en_US
dc.date.accessioned2010-06-08en_US
dc.date.accessioned2010-09-09T09:45:23Z-
dc.date.available2010-09-09T09:45:23Z-
dc.date.issued2010en_US
dc.identifier.urihttp://hdl.handle.net/10419/39794-
dc.description.abstractThis paper considers a model of spatial allocation of investment capital under uncertainty. We demonstrate that the spatial concentration of economic activity depends upon properties of risk preferences deeper than risk aversion. The degree of so-called relative prudence unambiguously decides whether or not the diversi cation of income risk favours the geographic dispersion of economic activity. In our framework we relate risk diversi cation with economic integration. Then there exists risk preferences so that spatial concentration of industry and capital is not a ected by the degree of economic integration or segmentation of the regions. We also study the impact of net return regressibility upon spatial allocation.en_US
dc.language.isoengen_US
dc.publisherUniv. of Technology, Fac. of Business Management and Economics Dresdenen_US
dc.relation.ispartofseriesDresden discussion paper series in economics 03/10en_US
dc.subject.jelD81en_US
dc.subject.jelR12en_US
dc.subject.jelR30en_US
dc.subject.jelR38en_US
dc.subject.ddc330en_US
dc.subject.keywordspatial allocationen_US
dc.subject.keywordinter-regional disparityen_US
dc.subject.keywordrisk aversionen_US
dc.subject.keywordprudenceen_US
dc.subject.keywordregressionen_US
dc.subject.stwInvestitionen_US
dc.subject.stwKapitalmobilitäten_US
dc.subject.stwRegionale Disparitäten_US
dc.subject.stwRisikopräferenzen_US
dc.subject.stwWirtschaftsintegrationen_US
dc.subject.stwRegressionen_US
dc.subject.stwTheorieen_US
dc.titleSpatial allocation of capital: The role of risk preferencesen_US
dc.typeWorking Paperen_US
dc.identifier.ppn627495486en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungen-
dc.identifier.repecRePEc:zbw:tuddps:0310-
Appears in Collections:Dresden Discussion Paper Series in Economics, Faculty of Business and Economics, TU Dresden

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