We consider a formal approach to comparative risk aversion and applies it to intertemporal choice models. This allows us to ask whether standard classes of utility functions, such as those inspired by Kihlstrom and Mirman (1974), Selden (1978), Epstein and Zin (1989) and Quiggin (1982) are well-ordered in terms of risk aversion. Moreover, opting for this model-free approach allows us to establish new general results on the impact of risk aversion on savings behaviors. In particular, we show that risk aversion enhances precautionary savings, clarifying the link that exists between the notions of prudence and risk aversion.
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机译：我们考虑了一种比较风险规避的正式方法，并将其应用于跨期选择模型。这使我们可以质疑效用函数的标准类别，例如，受Kihlstrom和Mirman（1974），Selden（1978），Epstein and Zin（1989）和Quiggin（1982）启发的那些在风险规避方面是否井井有条。此外，选择这种无模型方法使我们能够建立关于风险规避对储蓄行为的影响的新的一般结果。特别是，我们表明，规避风险可以提高预防性储蓄，从而阐明审慎与规避风险之间存在的联系。
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