Key points are not available for this paper at this time.
I. Introduction, 465. — II. A two period model of consumption, 466. — III. The effect of uncertainty on saving, 467. — IV. Decreasing risk aversion and precautionary saving, 468. — V. Speculations on the consumption function, 470. — VI. Conclusion, 472.
Hayne E. Leland (Thu,) studied this question.