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Using subjective income expectations to test for excess sensitivity of consumption to predicted income growth
Subjective expectations Precautionary saving
2015/7/23
We test for precautionary saving and excess sensitivity of consumption to predicted
income growth using a 1989}1993 panel survey of Italian households that has measures
of subjective income and in#a...
Inf-convolution of G-expectations
inf-convolution G-expectation G-normal distribution GBrownian motion
2010/11/2
In this paper we will discuss the optimal risk transfer problems when risk measures are generated by G-expectations, and we present the relationship between inf-convolution of G-expectations and the i...