COWLES FOUNDATION FOR RESEARCH IN ECONOMICS
AT YALE UNIVERSITY

Box 208281
New Haven, CT 06520-8281

COWLES FOUNDATION DISCUSSION PAPER NO. 1268

Savings and Portfolio Choice in a Two-Period Two-Asset Model

Saku Aura, Peter Diamond and John Geanakoplos

July 2000

We extend Arrow's analysis of portfolio choice in a one-period model to savings and portfolio choice in a two-period model.