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Title: Changing Income in an Uncertain Environment
Authors: Mirman, Leonard J.
Santugini, Marc
Keywords: Classical Demand Theory
Consumption-Saving Problem
Risk Aversion
Issue Date: 2013-04
Series/Report no.: Cahiers du CIRPÉE;13-06
Abstract: We study the effect of changing income on optimal decisions in the multidimensional expected utility framework. Using the KM utility representation, we show that the comparative analysis under uncertainty is founded on classical demand theory under certainty and is linked to the effect of changing risk aversion, which also depends on classical demand theory.
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