Supermodularity and the comparative statics of risk

被引:3
|
作者
Quiggin, John [1 ]
Chambers, Robert G.
机构
[1] Univ Queensland, Brisbane, Qld 4072, Australia
[2] Univ Maryland, College Pk, MD 20742 USA
基金
澳大利亚研究理事会;
关键词
supermodularity; comparative statics; risk;
D O I
10.1007/s11238-006-9018-y
中图分类号
F [经济];
学科分类号
02 ;
摘要
In this article, it is shown that a wide range of comparative statics results from expected utility theory can be extended to generalized expected utility models using the tools of supermodularity theory. In particular, a range of concepts of decreasing absolute risk aversion may be formulated in terms of the supermodularity properties of certainty equivalent representations of preferences.
引用
收藏
页码:97 / 117
页数:21
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