Risk premium and non-smooth utility

被引：0
|
作者：
Flam, Sjur Didrik [1 ,2 ]
机构：
[1] IIASA, Laxenburg, Austria
[2] Univ Bergen, Dept Econ, N-5020 Bergen, Norway
来源：
JOURNAL OF RISK | 2009年 / 11卷 / 03期
关键词：
EXPECTED-UTILITY; AVERSION;
D O I：
暂无
中图分类号：
F8 [财政、金融];
学科分类号：
0202 ;
摘要：
Criticism of expected utility theory emphasizes the asymmetry between gains and losses. Also stressed is the role of actual wealth. These aspects invite special scrutiny of risk aversion, whether in the small or in the large, at a reference point, called the status quo, where utility is non-smooth.
引用
收藏
页码：87 / 99
页数：13
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