prudence (positive third derivative of utility)
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Concepts that appear alongside prudence (positive third derivative of utility) across episodes.
- buffer stock savings
- discount rate (delta)
- risk aversion
- permanent income
- transitory income
- savings constraints
- consumption martingale
- instrumental variable (iv) estimation
- bellman equation
- inter-temporal optimization
- marginal utility of consumption
- i.i.d. shocks
- maximum likelihood estimation
- envelope theorem
- first-order condition
- illiquid assets
- consumption smoothing
- euler equation
- credit constraints
- neoclassical model of savings