The Econometric SocietyEdited by: Guido W. Imbens • Print ISSN: 0012-9682 • Online ISSN: 1468-0262
Econometrica: Oct, 1969, Volume 37, Issue 4
https://doi.org/0012-9682(196910)37:4<660:BTRWMC>2.0.CO;2-M
p. 660-667
Joseph E. Stiglitz
This paper investigates the restrictions on the indifference map that are implied by alternative assumptions about consumer behavior under uncertainty and, conversely, the restrictions on consumer behavior under uncertainty that are implied by alternative assumptions about the indifference map. It is shown, for instance, that if the individual is to be risk neutral at all incomes and price ratios in a given neighborhood, the income-consumption curves must be linear, and if all income-consumption curves are linear, there exists a cardinal representation of utility which is linear in income. The cases of constant relative risk aversion, constant absolute risk aversion, and quadratic utility functions are also investigated.
March 5, 2024
The terms of the Editors of the Econometric Society's three journals end June 30, 2025. We are pleased to announce the incoming Editors and to thank the outgoing Editors for their excellent and continuing service.
Econometrica: Since 2019, Guido Imbens has served as the 14th Editor of Econometrica. On July 1, 2025, Marina Halac will become the Editor.
Quantitative Economics: Stéphane Bonhomme has been the Editor of Quantitative Economics since 2021. His successor will be Bernard Salanié.
Theoretical Economics: The Editor of Theoretical Economics since 2021 has been Simon Board. Taking over for him in July 2025 will be Federico Echenique.
Guido, Stéphane, and Simon have been outstanding Editors. We are grateful to them for the work they have done and will continue to do, and we look forward to further congratulating them next year. We believe Marina, Bernard, and Federico will be outstanding successors and we thank them in advance for their service.
Finally, we are grateful to Larry Samuelson for chairing all three search committees, and we thank the search committee members for their hard and fruitful work:
Econometrica: Christian Dustmann, Lars Hansen, Alessandro Lizzeri, George Mailath, Ariel Pakes, Helene Rey, and Elie Tamer.
QE: Kate Ho, Michael Keane, Felix Kubler, Whitney Newey, and Frank Schorfheide.
TE: Jeff Ely, Johannes Horner, Gilat Levy, Meg Meyer, and Ran Spiegler.
