Do Non-Prudent Consumers Ever Engage in Precautionary Saving? Two Observations on Risk and Precautionary Saving

Ventura, Luigi; Horioka, Charles Yuji

Do Non-Prudent Consumers Ever Engage in Precautionary Saving? Two Observations on Risk and Precautionary Saving

Ventura, Luigi; Horioka, Charles Yuji

Institute of Social and Economic Research Discussion Papers, 2025, 1297, 1-12

アクセス数:6件（2026-02-16 04:11 集計）

固定URL: https://hdl.handle.net/11094/103052

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タイトル	Do Non-Prudent Consumers Ever Engage in Precautionary Saving? Two Observations on Risk and Precautionary Saving
著者	著者名 Ventura, Luigi
著者	NRID 1000090173632 1000090173632 著者名 Horioka, Charles Yuji
キーワード等	household saving
	precautionary saving
	prudence
	pure risk
	risk aversion
	saving
	speculative risk
JEL分類コード (JEL)	D11
	D14
	D15
	D81
	E21
	G51
抄録	In this paper, we first show that a particular form of precautionary saving, which we will call “intertemporal precautionary saving” to distinguish it from purely intertemporal and purely precautionary saving, will inevitably arise in the case of pure (downside) risk as long as consumers are risk-averse, even if they are not prudent. We then present a simple example that shows that even pure precautionary saving (i.e., saving generated by risk alone without effects on expected income) may arise as long as consumers are risk-averse, even if they are not prudent and even if risk is speculative (two-sided).
出版者	The Institute of Social and Economic Research, The University of Osaka
収録物名	Institute of Social and Economic Research Discussion Papers
巻(号)	1297
ページ	1-12
刊行年月	2025-11
言語	英語
ハンドルURL	https://hdl.handle.net/11094/103052
PISSN	0473453X
eISSN	24350982
関連情報 (references)	URI https://www.iser.osaka-u.ac.jp/static/resources/docs/dp/DP1297.pdf
アクセス権	metadata only access
カテゴリ	ディスカッション／ワーキング・ペーパー DP/WP
カテゴリ	Institute of Social and Economic Research Discussion Papers

資源タイプ	テクニカルレポート
ローカル資源タイプ	ディスカッション／ワーキング・ペーパー
DCMI資源タイプ	text
DCTERMS.bibliographicCitation	Institute of Social and Economic Research Discussion Papers. 2025, 1297, p. 1-12
DC.title	Do Non-Prudent Consumers Ever Engage in Precautionary Saving? Two Observations on Risk and Precautionary Saving
DC.creator	Ventura, Luigi
DC.creator	Horioka, Charles Yuji
DC.publisher	The Institute of Social and Economic Research, The University of Osaka
DC.language' scheme='DCTERMS.RFC1766	英語
DC.type' scheme='DCTERMS.DCMIType	text
DCTERMS.issued' scheme='DCTERMS.W3CDTF	2025-11
DC.relation' scheme='DCTERMS.URI	https://www.iser.osaka-u.ac.jp/static/resources/docs/dp/DP1297.pdf
DC.subject	household saving
	precautionary saving
	prudence
	pure risk
	risk aversion
	saving
	speculative risk
DCTERMS.abstract	In this paper, we first show that a particular form of precautionary saving, which we will call “intertemporal precautionary saving” to distinguish it from purely intertemporal and purely precautionary saving, will inevitably arise in the case of pure (downside) risk as long as consumers are risk-averse, even if they are not prudent. We then present a simple example that shows that even pure precautionary saving (i.e., saving generated by risk alone without effects on expected income) may arise as long as consumers are risk-averse, even if they are not prudent and even if risk is speculative (two-sided).
DC.format	103052
citation_title	Do Non-Prudent Consumers Ever Engage in Precautionary Saving? Two Observations on Risk and Precautionary Saving
citation_author	Ventura, Luigi
citation_author	Horioka, Charles Yuji
citation_publisher	The Institute of Social and Economic Research, The University of Osaka
citation_language	英語
citation_date	2025-11
citation_journal_title	Institute of Social and Economic Research Discussion Papers
citation_volume	1297
citation_firstpage	1
citation_lastpage	12
citation_public_url	https://hdl.handle.net/11094/103052
citation_abstract_html_url	https://www.iser.osaka-u.ac.jp/static/resources/docs/dp/DP1297.pdf

Do Non-Prudent Consumers Ever Engage in Precautionary Saving? Two Observations on Risk and Precautionary Saving

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