Proper risk aversion, a pivotal concept in the study of behavioral conditions on utility functions, states that an undesirable risk can never be made desirable by the presence of an independent risk. It is well known that standard risk aversion is sufficient for this concept. We show in this short article that convex and decreasing absolute risk aversion is an alternative sufficient condition
Within the expected-utility framework, the only explanation for risk aversion is that the utility fu...
According to the orthodox treatment of risk preferences in decision theory, they are to be explained...
According to the orthodox treatment of risk preferences in decision theory, they are to be explained...
This paper shows that a strictly increasing and risk averse utility function with decreasing absolut...
Within this paper we give a characterization of the decreasing absolute risk aversion. We define two...
We present a necessary and sufficient condition on an agent s utility function for a simple mean pre...
This note presents a necessary and sufficient condition on an agent’s utility function for a simple ...
URL des Documents de travail : http://ces.univ-paris1.fr/cesdp/cesdp2008.htmlDocuments de travail du...
I study preferences defined on the set of real valued random variables as a model of economic behavi...
There exists no satisfactory theory of risk in current normative decision theories. Notions based on...
The risk premium is affected by loss aversion and probability distortions as well as utility curvatu...
textabstractThis paper is motivated by the search for one cardinal utility for decisions under risk,...
The decision-making situation under risk is defined and the certainty equivalent of a lottery with u...
The decision-making situation under risk is defined and the certainty equivalent of a lottery with u...
Arrow (1971) shows that an expected-utility maximizer with a differentiable utility function will al...
Within the expected-utility framework, the only explanation for risk aversion is that the utility fu...
According to the orthodox treatment of risk preferences in decision theory, they are to be explained...
According to the orthodox treatment of risk preferences in decision theory, they are to be explained...
This paper shows that a strictly increasing and risk averse utility function with decreasing absolut...
Within this paper we give a characterization of the decreasing absolute risk aversion. We define two...
We present a necessary and sufficient condition on an agent s utility function for a simple mean pre...
This note presents a necessary and sufficient condition on an agent’s utility function for a simple ...
URL des Documents de travail : http://ces.univ-paris1.fr/cesdp/cesdp2008.htmlDocuments de travail du...
I study preferences defined on the set of real valued random variables as a model of economic behavi...
There exists no satisfactory theory of risk in current normative decision theories. Notions based on...
The risk premium is affected by loss aversion and probability distortions as well as utility curvatu...
textabstractThis paper is motivated by the search for one cardinal utility for decisions under risk,...
The decision-making situation under risk is defined and the certainty equivalent of a lottery with u...
The decision-making situation under risk is defined and the certainty equivalent of a lottery with u...
Arrow (1971) shows that an expected-utility maximizer with a differentiable utility function will al...
Within the expected-utility framework, the only explanation for risk aversion is that the utility fu...
According to the orthodox treatment of risk preferences in decision theory, they are to be explained...
According to the orthodox treatment of risk preferences in decision theory, they are to be explained...
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