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Elementary,Middle School,High School,College,University,PHD
| Teaching Since: | May 2017 |
| Last Sign in: | 408 Weeks Ago, 4 Days Ago |
| Questions Answered: | 66690 |
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MCS,PHD
Argosy University/ Phoniex University/
Nov-2005 - Oct-2011
Professor
Phoniex University
Oct-2001 - Nov-2016
Precautionary saving with constant-absolute-risk-aversion utility. Consider an individual who lives for two periods and has constant-absolute risk-aversion utility,
 The interest rate is zero and the individual has no initial wealth, so the individual’s lifetime budget constraint is
 is certain, but Y2 is normally distributed with mean Y2 and variance σ2.

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