Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/101985 
Authors: 
Year of Publication: 
2013
Series/Report no.: 
Nota di Lavoro No. 107.2013
Publisher: 
Fondazione Eni Enrico Mattei (FEEM), Milano
Abstract: 
The paper clarifies the link between changes in risk aversion and the effect on the consumption discount rate. In a general framework that can cope with various forms of uncertainty, it is shown that the response of the consumption discount rate to a change in risk aversion depends on some fundamental properties of the considered uncertainties. The application of this general result to specific forms of uncertainty extends existing results to more general forms of risk and yields a new result on preference uncertainty.
Subjects: 
Discount Rate
Risk Aversion
Kreps-Porteus-Selden
Risk-Sensitive Preferences
Uncertain Preferences
Climate Change
JEL: 
H43
D81
Q54
Document Type: 
Working Paper

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