On relative and partial risk attitudes: Theory and implicationsCitation formats

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On relative and partial risk attitudes: Theory and implications. / Chiu, W. Henry; Eeckhoudt, Louis; Rey, Beatrice.

In: Economic Theory, Vol. 50, No. 1, 05.2012, p. 151-167.

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Chiu, WH, Eeckhoudt, L & Rey, B 2012, 'On relative and partial risk attitudes: Theory and implications' Economic Theory, vol. 50, no. 1, pp. 151-167. https://doi.org/10.1007/s00199-010-0557-7

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Chiu, W. Henry ; Eeckhoudt, Louis ; Rey, Beatrice. / On relative and partial risk attitudes: Theory and implications. In: Economic Theory. 2012 ; Vol. 50, No. 1. pp. 151-167.

Bibtex

@article{f60813bf193344b9ad1a8142719ea6a2,
title = "On relative and partial risk attitudes: Theory and implications",
abstract = "This paper develops context-free interpretations for the relative and partial Nth degree risk attitude measures and show that various conditions on theses measures are utility characterizations of the effects of scaling general stochastic changes in different settings. It is then shown that these characterizations can be applied to generalize comparative statics results in a number of important problems, including precautionary savings, optimal portfolio choice, and competitive firms under price uncertainty. {\circledC} 2010 Springer-Verlag.",
keywords = "Comparative statics, Nth degree risk, Relative risk aversion, Risk apportionment, Stochastic dominance",
author = "Chiu, {W. Henry} and Louis Eeckhoudt and Beatrice Rey",
year = "2012",
month = "5",
doi = "10.1007/s00199-010-0557-7",
language = "English",
volume = "50",
pages = "151--167",
journal = "Economic Theory",
issn = "0938-2259",
publisher = "Springer Nature",
number = "1",

}

RIS

TY - JOUR

T1 - On relative and partial risk attitudes: Theory and implications

AU - Chiu, W. Henry

AU - Eeckhoudt, Louis

AU - Rey, Beatrice

PY - 2012/5

Y1 - 2012/5

N2 - This paper develops context-free interpretations for the relative and partial Nth degree risk attitude measures and show that various conditions on theses measures are utility characterizations of the effects of scaling general stochastic changes in different settings. It is then shown that these characterizations can be applied to generalize comparative statics results in a number of important problems, including precautionary savings, optimal portfolio choice, and competitive firms under price uncertainty. © 2010 Springer-Verlag.

AB - This paper develops context-free interpretations for the relative and partial Nth degree risk attitude measures and show that various conditions on theses measures are utility characterizations of the effects of scaling general stochastic changes in different settings. It is then shown that these characterizations can be applied to generalize comparative statics results in a number of important problems, including precautionary savings, optimal portfolio choice, and competitive firms under price uncertainty. © 2010 Springer-Verlag.

KW - Comparative statics

KW - Nth degree risk

KW - Relative risk aversion

KW - Risk apportionment

KW - Stochastic dominance

U2 - 10.1007/s00199-010-0557-7

DO - 10.1007/s00199-010-0557-7

M3 - Article

VL - 50

SP - 151

EP - 167

JO - Economic Theory

JF - Economic Theory

SN - 0938-2259

IS - 1

ER -