Journal ArticleDOI
Precautionary saving and fuzzy information
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The authors consider a two-period life-cycle model where uncertainty about future labour income is modelled by a fuzzy set and apply a defuzzification strategy that explicitly takes the individual's behaviour towards risk into account.About:
This article is published in Economics Letters.The article was published on 2001-01-01. It has received 7 citations till now. The article focuses on the topics: Precautionary savings & Defuzzification.read more
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Precautionary Saving in the Small and in the Large
TL;DR: The Arrow-Pratt theory of risk aversion was shown to be isomorphic to the theory of optimal choice under risk in this paper, making possible the application of a large body of knowledge about risk aversion to precautionary saving.
Posted Content
Simulator and scenario for "Deleveraging crises and deep recessions: a behavioural approach"
Pascal Seppecher,Isabelle Salle +1 more
TL;DR: Jamel as discussed by the authors is an agent-based framework dedicated to modeling, simulation and analysis of complex monetary economies, and it contains the scenario used in the paper "Deleveraging crises and deep recessions: a behavioural approach" by Pascal Seppecher and Isabelle Salle.
Journal ArticleDOI
Deleveraging crises and deep recessions: a behavioural approach
Pascal Seppecher,Isabelle Salle +1 more
TL;DR: This article developed a decentralized and micro-founded macro-economic agent-based model, augmented with an opinion model, which produces endogenous waves of pessimism and optimism that feed back into firms' leverage and households' precautionary saving behavior.
Journal ArticleDOI
Nash-equilibria in a heterogeneous oligopoly with fuzzy information
TL;DR: In this article, the authors consider a model of an oligopolistic market with heterogeneous firms and products where neither the cost nor the demand functions are common knowledge and each firm only has some vague ideas about the price strategies adopted by its competitors which is modelled by a fuzzy set.
Book ChapterDOI
The Practical Application of Fuzzy Information Analysis in Flood Forecasting
Lihua Feng,Weihu Hong +1 more
TL;DR: The fuzzy information analysis method is used to forecast the peak discharge, with the result in accordance with the actual event, and can be seen as a new and effective method of flood prediction and forecasting.
References
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Journal ArticleDOI
Temporal risk aversion, intertemporal substitution and Keynesian propensities to consume
TL;DR: In this article, a two-period life cycle model of precautionary saving is constructed in which the link between the coefficient of relative risk aversion and the inverse of the elasticity of intertemporal substitution is broken.