Approximate aggregation under uncertainty
Publication
, Journal Article
Polemarchakis, HM; Selden, L; Zipkin, P; Pohlman, L
Published in: Journal of Economic Theory
1986
For a collection of agents with von Neumann-Morgenstern preferences, a price-independent income distribution, and identical probability beliefs, there exists a von Neumann-Morgenstern approximate aggregator. The risk tolerance of the approximate aggregator is equal to the sum of the individual agent risk tolerances at prices which yield constant, "risk-free", contingent consumption. The application of the approximate aggregator to standard asset pricing models in finance is discussed briefly. © 1986.
Duke Scholars
Published In
Journal of Economic Theory
ISSN
0022-0531
Publication Date
1986
Volume
38
Issue
2
Start / End Page
189 / 210
Related Subject Headings
- Economic Theory
- 1499 Other Economics
- 1401 Economic Theory
Citation
APA
Chicago
ICMJE
MLA
NLM
Polemarchakis, H. M., Selden, L., Zipkin, P., & Pohlman, L. (1986). Approximate aggregation under uncertainty. Journal of Economic Theory, 38(2), 189–210.
Polemarchakis, H. M., L. Selden, P. Zipkin, and L. Pohlman. “Approximate aggregation under uncertainty.” Journal of Economic Theory 38, no. 2 (1986): 189–210.
Polemarchakis HM, Selden L, Zipkin P, Pohlman L. Approximate aggregation under uncertainty. Journal of Economic Theory. 1986;38(2):189–210.
Polemarchakis, H. M., et al. “Approximate aggregation under uncertainty.” Journal of Economic Theory, vol. 38, no. 2, 1986, pp. 189–210.
Polemarchakis HM, Selden L, Zipkin P, Pohlman L. Approximate aggregation under uncertainty. Journal of Economic Theory. 1986;38(2):189–210.
Published In
Journal of Economic Theory
ISSN
0022-0531
Publication Date
1986
Volume
38
Issue
2
Start / End Page
189 / 210
Related Subject Headings
- Economic Theory
- 1499 Other Economics
- 1401 Economic Theory