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Relative risk aversion: increasing or decreasing?

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Keywords
  • D81 - Criteria For Decision-Making Under Risk And Uncertainty
  • E4 - Money And Interest Rates
  • D14 - Personal Finance

Abstract

While there is no abstract for this paper, it makes an argument that relative risk aversion is decreasing in wealth rather than increasing in wealth as hypothesized by Arrow, using the money demand findings of Friedman.

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