Precautionary Effort: A New Look

Louis Eeckhoudt; Rachel J. Huang; Larry Y. Tzeng

doi:10.1111/j.1539-6975.2011.01441.x

Precautionary Effort: A New Look

Louis Eeckhoudt, Rachel J. Huang, Larry Y. Tzeng

Department of Finance

Research output: Contribution to journal › Article › peer-review

45 Scopus citations

Abstract

While the concept of precautionary saving is well documented, that of precautionary effort has received relatively limited attention. In this note, we set up a two period model in order to analyze the conditions under which the introduction (or deterioration) of an independent background risk increases effort.

Original language	English
Pages (from-to)	585-590
Number of pages	6
Journal	Journal of Risk and Insurance
Volume	79
Issue number	2
DOIs	https://doi.org/10.1111/j.1539-6975.2011.01441.x
State	Published - Jun 2012

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Precautionary Effort: A New Look

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