Substitution, Risk Aversion, and the Temporal Behavior of Consumption and Asset Returns: A Theoretical Framework

G. Epstein, Larry; E. Zin, Stanley

doi:10.2307/1913778

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Substitution, Risk Aversion, and the Temporal Behavior of Consumption and Asset Returns: A Theoretical Framework

Published in Econometrica • Jul 1, 1989

Authors:

Larry G. Epstein

Stanley E. Zin

Abstract

Larry G. Epstein, Stanley E. Zin, Substitution, Risk Aversion, and the Temporal Behavior of Consumption and Asset Returns: A Theoretical Framework, Econometrica, Vol. 57, No. 4 (Jul., 1989), pp. 937-969

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Subject

Risk aversion (psychology)

Economics

Substitution (logic)

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