This paper shows that temperance is the highest order risk preferences condition for which spreading N independent and unfair risks provides the highest level of welfare than any other possible allocations of risks. These results are also interpreted through the concept of N-superadditivity of the utility premium. This paper provides a novel application of temperance, not in terms of two risks as it is common, but in terms of N risks
We study the prevalence of the higher order risk attitudes of prudence and temperance in an experime...
Risk aversion (a second-order risk preference) is a time-proven concept in economic models of choice...
This paper investigates how welfare losses for facing risks change as the risk environment of the de...
This paper shows that temperance is the highest order risk preferences condition for which spreading...
This paper shows that temperance is the highest order risk preference condition for which spreading ...
This note studies the relationships between different aspects of agent’s preferences toward risk. We...
Higher-order risk effects play an important role in examining economic behavior under uncertainty. A...
This paper shows that the notions of prudence, temperance, edginess, and, more generally, risk appor...
Risk aversion—but also the higher-order risk preferences of prudence and temperance—are fundamental ...
This paper shows that the notions of prudence, temperance, edginess, and, more generally, risk appor...
We characterize the individual’s attitude towards risk, prudence and temperance in the gain and loss...
This paper investigates how welfare losses for facing high-order risk increases change when the risk...
This paper investigates how welfare losses for facing high-order risk increases change when the risk...
This paper examines preferences toward particular classes of lottery pairs. We show how such concept...
This paper investigates how welfare losses for facing risks change as a function of the number of ri...
We study the prevalence of the higher order risk attitudes of prudence and temperance in an experime...
Risk aversion (a second-order risk preference) is a time-proven concept in economic models of choice...
This paper investigates how welfare losses for facing risks change as the risk environment of the de...
This paper shows that temperance is the highest order risk preferences condition for which spreading...
This paper shows that temperance is the highest order risk preference condition for which spreading ...
This note studies the relationships between different aspects of agent’s preferences toward risk. We...
Higher-order risk effects play an important role in examining economic behavior under uncertainty. A...
This paper shows that the notions of prudence, temperance, edginess, and, more generally, risk appor...
Risk aversion—but also the higher-order risk preferences of prudence and temperance—are fundamental ...
This paper shows that the notions of prudence, temperance, edginess, and, more generally, risk appor...
We characterize the individual’s attitude towards risk, prudence and temperance in the gain and loss...
This paper investigates how welfare losses for facing high-order risk increases change when the risk...
This paper investigates how welfare losses for facing high-order risk increases change when the risk...
This paper examines preferences toward particular classes of lottery pairs. We show how such concept...
This paper investigates how welfare losses for facing risks change as a function of the number of ri...
We study the prevalence of the higher order risk attitudes of prudence and temperance in an experime...
Risk aversion (a second-order risk preference) is a time-proven concept in economic models of choice...
This paper investigates how welfare losses for facing risks change as the risk environment of the de...