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Some results on “an income fluctuation problem”
4 references·16 citing·40 second hop
Some results on “an income fluctuation problem” (1977)Some results on “an income fluctuation pr…Risk Aversion in the Small and in the Large (1976)Risk Aversion in the Small an…Essays in the Theory of Risk-Bearing. (1972)Essays in the Theory of Risk-…Optimal Savings Under Uncertainty (1969)Optimal Savings Under Uncerta…Risk Aversion in the Small and in the Large (1964)Risk Aversion in the Small an…Who Are the Hand-to-Mouth? (2024)Who Are the Hand-to-Mouth?Who Are the Hand-to-Mouth? 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(2021)Moral Hazard and Observability (1979)Prospect theory: An analysis of decision under risk (1988)The New Institutional Economics: Taking Stock, Looking Ahead (2000)An Asymptotic Theory of Growth Under Uncertainty (1975)Terms-of-trade uncertainty and economic growth (1997)Control of corruption, international investment, and economic growth – Evidence from panel data (2017)Financial Intermediation and Delegated Monitoring (1984)Well-being : the foundations of hedonic psychology (1999)On the measurement of inequality (1970)THE VALUATION OF RISK ASSETS AND THE SELECTION OF RISKY INVESTMENTS IN STOCK PORTFOLIOS AND CAPITAL BUDGETS**This paper is another in a series of interrelated theoretical and statistical studies of corporate financial and investment policies being made under grants from the Rockefeller Foundation, and more recently the Ford Foundation, to the Harvard Business School. The generous support for this work is most gratefully acknowledged. The author is also much indebted to his colleagues Professors Bishop, Christenson, Kahr, Raiffa, and (especially) Schlaifer, for extensive discussion and commentary on an earlier draft of this paper; but responsibility for any errors or imperfections remains strictly his own.[Professor Sharpe's paper, “Capital Asset Prices: A Theory of Market Equilibrium Under Conditions of Risk” (Journal of Finance, September 1964) appeared after this paper was in final form and on its way to the printers. My first section, which parallels the first half of his paper (with corresponding conclusions), sets the algebraic framework for sections II, III and VI, (which have no counterpart in his paper) and for section IV on the equilibrium prices of risk assets, concerning which our results differ significantly for reasons which will be explored elsewhere. Sharpe does not take up the capital budgeting problem developed in section V below.] (1975)The arbitrage theory of capital asset pricing (1976)
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References

  • 1964Risk Aversion in the Small and in the Large4,964 cited
  • 1976Risk Aversion in the Small and in the Large4,655 cited
  • 1972Essays in the Theory of Risk-Bearing.3,991 cited
  • 1969Optimal Savings Under Uncertainty334 cited

Cited by

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  • 2015The wealth distribution in Bewley economies with capital income risk159 cited
  • 2000Optimal Intertemporal Consumption under Uncertainty138 cited
  • 1997The one-sector growth model with idiosyncratic shocks: Steady states and dynamics133 cited
  • 2016Measuring and Understanding Behavior, Welfare, and Poverty116 cited
  • 2014THE DISTRIBUTION OF WEALTH IN THE BLANCHARD–YAARI MODEL115 cited
  • 2001Capital income taxation, wealth distribution and borrowing constraints96 cited
  • 2003Precautionary Savings and the Wealth Distribution with Illiquid Durables80 cited
  • 2001Incomplete Markets and Volatility72 cited
  • 1994Construction of Stationary Markov Equilibria in a Strategic Market Game66 cited
  • 2020Who Are the Hand-to-Mouth?53 cited
  • 2015

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The surprisingly low importance of income uncertainty for precaution
45 cited
  • 1993Explaining Financial Market Facts: The Importance of Incomplete Markets and Transaction Costs43 cited
  • 2024Who Are the Hand-to-Mouth?32 cited
  • 2008How Much Insurance in Bewley Models31 cited
  • 1994Macroeconomics With Frictions30 cited