Chapter One Introduction

Chapter Two Literature Review

2.1 Theoretical Analysis

2.2 Recent Empirical Evidence

Chapter Three Uncapitalized Future Income

3.1 Introduction

3.2 A Two-period Model and the Main Finding

3.3 An Infinite Horizon Model

3.4 Discussion

Appendix

Chapter Four Inferring Risk Aversion Using One Portfolio Decision

4.1 Introduction

4.2 Inferring Risk Aversion in the Small

4.3 Inferring Risk Aversion in the Large

4.4 Inferring Risk Aversion in the Large Using Functional Forms for Utility

4.5 Numerical Solutions

4.6 Conclusion

Chapter Five Reinterpretation of Recent Empirical Evidence

5.1 Introduction

5.2 Friend and Blume(1975)

5.3 Chiappori and Paiella(2011)

5.4 Brunnermeier and Nagel(2008)

5.5 Summary and Discussion

References

Postscript