Restricted increases in risk aversion and their application

Abstract : This paper proposes additional definitions of what it means for one decision maker to be more risk averse than another. These definitions build on the strongly more risk averse definition presented by Ross (Econometrica 49:621–663, 1981). Using examples from portfolio choice, self-protection and insurance demand, it is shown that these definitions of increased risk aversion facilitate clear-cut comparative statics analysis in decision models where traditional concepts of increased risk aversion are insufficient.
Type de document :
Article dans une revue
Economic Theory, Springer Verlag, 2016, 64 (1), pp.161--181. 〈10.1007/s00199-016-0978-z〉
Liste complète des métadonnées

https://hal.archives-ouvertes.fr/hal-01533535
Contributeur : Romain Boisselet <>
Soumis le : mardi 6 juin 2017 - 15:44:09
Dernière modification le : mardi 3 juillet 2018 - 11:39:42

Identifiants

Collections

Citation

Louis Eeckhoudt, Liqun Liu, Jack Meyer. Restricted increases in risk aversion and their application. Economic Theory, Springer Verlag, 2016, 64 (1), pp.161--181. 〈10.1007/s00199-016-0978-z〉. 〈hal-01533535〉

Partager

Métriques

Consultations de la notice

76