| dc.creator |
Eeckhoudt, Louis |
|
| dc.creator |
Schlesinger, Harris |
|
| dc.date |
2005 |
|
| dc.date.accessioned |
2013-10-16T07:01:30Z |
|
| dc.date.available |
2013-10-16T07:01:30Z |
|
| dc.date.issued |
2013-10-16 |
|
| dc.identifier |
http://hdl.handle.net/10419/18826 |
|
| dc.identifier |
ppn:485196271 |
|
| dc.identifier.uri |
http://koha.mediu.edu.my:8181/xmlui/handle/10419/18826 |
|
| dc.description |
This paper examines preferences towards particular classes of lottery pairs. We show how concepts such as prudence and temperance can be fully characterized by a preference relation over these lotteries. If preferences are defined in an expected-utility framework with differentiable utility, the direction of preference for a particular class of lottery pairs is equivalent to signing the nth derivative of the utility function. What makes our characterization appealing is its simplicity, which seems particularly amenable to experimentation. |
|
| dc.language |
eng |
|
| dc.publisher |
|
|
| dc.relation |
CESifo working papers 1462 |
|
| dc.rights |
http://www.econstor.eu/dspace/Nutzungsbedingungen |
|
| dc.subject |
D81 |
|
| dc.subject |
ddc:330 |
|
| dc.subject |
properness |
|
| dc.subject |
prudence |
|
| dc.subject |
risk apportionment |
|
| dc.subject |
risk aversion |
|
| dc.subject |
stochastic dominance |
|
| dc.subject |
temperance |
|
| dc.subject |
utility premium |
|
| dc.subject |
Risikoaversion |
|
| dc.subject |
Risikopräferenz |
|
| dc.subject |
Erwartungsnutzen |
|
| dc.subject |
Theorie |
|
| dc.title |
Putting risk in its proper place |
|
| dc.type |
doc-type:workingPaper |
|