The Demand for Risky Assets.
This article develops an aggregate demand function for risky assets in the U.S. Prior to analyzing the survey data, the paper will adapt and extend existing theory to obtain the relationships between the composition of household wealth and their utility functions. These relationships are suitable fo...
| Publicado en: | American Economic Review Vol. 65; no. 5; pp. 900 - 923 |
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| Autores principales: | , |
| Formato: | Artículo |
| Publicado: |
American Economic Association
Dec75
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| Materias: | |
| Acceso en línea: | Ver este registro en EBSCOhost |
| fields | @attributes: recordID: 1 pdfLink: plink: https://search.ebscohost.com/login.aspx?direct=true&db=hlh&AN=4495948&site=ehost-live header: @attributes: shortDbName: hlh uiTerm: 4495948 longDbName: Humanities International Complete uiTag: AN controlInfo: bkinfo: jinfo: jid: 00028282 AER jtl: American Economic Review issn: 00028282 maglogo: N pubinfo: dt: Dec75 vid: 65 iid: 5 pid: 22 pub: American Economic Association artinfo: ui: 4495948 ppf: 900 ppct: 23 formats: tig: atl: The Demand for Risky Assets. aug: au: Friend, Irwin Blume, Marshall E. affil: University of Pennsylvania su: Investments Risk Demand function Economic demand Supply & demand Expected utility sug: subj: Investments Risk Demand function Economic demand Supply & demand Expected utility ab: This article develops an aggregate demand function for risky assets in the U.S. Prior to analyzing the survey data, the paper will adapt and extend existing theory to obtain the relationships between the composition of household wealth and their utility functions. These relationships are suitable for statistical analysis at both the micro and macro levels. The article concludes that the assumption of constant proportional risk aversion for households is as a first approximation a fairly accurate description of the market place. Under tenable assumptions, the authors develop a simple form of the aggregate equilibrium relationship between the relative demand for risky assets and the market price of risk. pubtype: Academic Journal doctype: Article src: R language: English refInfo: copyright: @attributes: flag: Y dt: @attributes: year: 1975 holdings: @attributes: islocal: N |
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