Journal article
Probabilistic risk aversion with an arbitrary outcome set
Economics Letters, Vol.112(1), pp.34-37
2011
Abstract
This paper analyzes risk aversion when outcomes/consequences may not be measurable in monetary terms and people have fuzzy preferences over lotteries, i.e. they choose in a probabilistic manner. The paper shows that comparative risk aversion is well defined in a constant error/tremble model but not in a strong utility model.
Details
- Title
- Probabilistic risk aversion with an arbitrary outcome set
- Authors/Creators
- P.R. Blavatskyy (Author/Creator) - Universität Innsbruck
- Publication Details
- Economics Letters, Vol.112(1), pp.34-37
- Publisher
- Elsevier
- Identifiers
- 991005543421907891
- Copyright
- © 2011 Elsevier B.V.
- Murdoch Affiliation
- Murdoch University
- Language
- English
- Resource Type
- Journal article
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- Citation topics
- 6 Social Sciences
- 6.122 Economic Theory
- 6.122.1287 Risk Preferences
- Web Of Science research areas
- Economics
- ESI research areas
- Economics & Business