Stronger measures of higher-order risk attitudes

被引：36
|
作者：
Denuit, Michel M. [1 ,2 ]
Eeckhoudt, Louis [3 ,4 ]
机构：
[1] Catholic Univ Louvain, Inst Sci Actuarielles, B-1348 Louvain, Belgium
[2] Catholic Univ Louvain, Inst Stat, B-1348 Louvain, Belgium
[3] LEM, IESEG Sch Management, Lille, France
[4] Catholic Univ Louvain, CORE, B-1348 Louvain, Belgium
来源：
JOURNAL OF ECONOMIC THEORY | 2010年 / 145卷 / 05期
关键词：
Risk aversion; Downside risk; Prudence; Temperance; Increase in risk; Risk apportionment; DOWNSIDE RISK; AVERSION;
D O I：
10.1016/j.jet.2010.03.005
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
This paper aims to extend the results by Ross (1981) [15] and by Modica and Scarsini (2005) [13] to stochastic dominance of degree 4 and over. Specifically, it is shown that Ross' approach can be extended to any order of risk attitude beyond the generalization proposed by Modica and Scarsini by means of sth degree increase in risk defined by Ekern (1980) [8]. (C) 2010 Elsevier Inc. All rights reserved.
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页码：2027 / 2036
页数：10
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