Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/171598
Authors: 
Bommier, Antoine
Year of Publication: 
2011
Series/Report no.: 
Economics Working Paper Series 11/155
Abstract: 
An axiomatic construction for lifecycle preferences accounting for the finiteness and the randomness of life duration is provided. We emphasize the role of intertemporal correlation aversion and explain why multiplica- tive preferences provide an interesting alternative to additive preferences, allowing to separate risk aversion from intertemporal elasticty of substitu- tion. Implications regarding the shape of the optimal consumption pro?files are discussed.
Subjects: 
Intertemporal choice
Life-cycle models
Multivariate risk aver- sion
Uncertain lifetime
JEL: 
D91
Persistent Identifier of the first edition: 
Document Type: 
Working Paper

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