The name is absent



Table 3. Saha's argument on the NLMS model

____DRRA

CRRA

_____IRRA

DARA

θ > 1, θ > γ

θ > 1, θ = γ

θ > 1, θ < γ

CARA

θ=1, θ>γ

θ=1, θ=γ

θ=1, θ<γ

IARA

θ<1,θ>γ

θ<1, θ=γ

θ<1,θ<γ

Source: Saha (1997)

Table 4. Reconsideration of the NLMS model

_____DRRA

CRRA

_____IRRA

DARA

Not applicable

Not applicable

Not applicable

CARA

Not feasible

Not feasible

θ=1, θ<γ

IARA

Not feasible

Not feasible

θ<1,1≤γ

Table 5. Form (15) and the corresponding types of risk aversion

_____DRRA____

CRRA

_____IRRA

DARA

Not applicable

1 < δ = η

1 < δ < η

CARA

Not feasible

Not feasible

1=δ<η

IARA

______Not feasible

Not feasible

Not applicable

33



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