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What behaviour does it imply that Relative Risk Aversion of consumption, say R(c) is less than 1, equal to 1 or greater than 1?

I am reading an article of Diamond & Dybvig (1983), about Bank Runs, Deposit Insurance and liquidity and they assume a relative risk aversion greater than 1. Unfortunately some of my microeconomics are a couple of years ago. I know the formulas and so on, but am unsure of the intuitive implications on behaviour for different values of Relative Risk Aversion.


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