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A Mixed Model of Optimal Saving

Authors

Georgescu, Irina , CRISTOBAL CAMPOAMOR, ADOLFO, LUCIA CASADEMUNT, ANA MARÍA

External publication

No

Means

Adv. Intell. Sys. Comput.

Scope

Proceedings Paper

Nature

Científica

JCR Quartile

✗

SJR Quartile

✗

Web

https://www.scopus.com/inward/record.uri?eid=2-s2.0-84976439894&doi=10.1007%2f978-3-319-40111-9_3&partnerID=40&md5=992e199209a3e28dc60b076ef5f184e7

Publication date

01/01/2016

ISI

000389726600003

Scopus Id

2-s2.0-84976439894

DOI

10.1007/978-3-319-40111-9_3

Abstract

This paper proposes a mixed model to study a consumer's optimal saving in the presence of two types of risk: income risk and background risk. In this model the income risk is represented by a fuzzy number and the background risk by a random variable. Three notions of precautionary saving are defined as indicators of the extra saving induced by the income and the background risk on the consumer's optimal choice.

Keywords

Saving; Background risk; Income risk; Possibility theory