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dc.contributor.authorNi, Shawn, 1962-eng
dc.contributor.authorRaymon, Neileng
dc.date.issued2000eng
dc.description.abstractIn this paper we examine how increases in intertemporal price uncertainty affect the welfare of a consumer. In the preference structure of the consumer the coefficient of relative risk aversion and the elasticity of intertemporal substitution (EIS) are parametrically independent. We find that under empirically plausible circumstances, for each given degree of risk aversion an increase in price uncertainty reduces consumer welfare if the EIS is lower than a corresponding threshold value. Overall our results suggest that for parameter estimates found in much of the empirical literature, increases in intertemporal price uncertainty are likely to reduce consumer welfare.eng
dc.identifier.citationDepartment of Economics, 2000eng
dc.identifier.urihttp://hdl.handle.net/10355/2746eng
dc.publisherDepartment of Economicseng
dc.relation.ispartofEconomics publicationseng
dc.relation.ispartofcommunityUniversity of Missouri-Columbia. College of Arts and Sciences. Department of Economicseng
dc.relation.ispartofseriesWorking papers (Department of Economics);WP 00-10eng
dc.rightsOpenAccess.eng
dc.rights.licenseThis work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivs 3.0 License.eng
dc.source.urihttp://www.missouri.edu/~econni/jedcfinal.pdfeng
dc.subjectprice uncertaintyeng
dc.subjectconsumer welfareeng
dc.subjectrisk aversioneng
dc.subjectintertemporal substitutioneng
dc.subject.lcshRisk perceptioneng
dc.subject.lcshPrices -- Econometric modelseng
dc.subject.lcshConsumer protectioneng
dc.titlePrice Uncertainty and Consumer Welfare in an Intertemporal Settingeng
dc.typeWorking Papereng


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