A Risk-neutral Characterization of Optimization and Pessimism and its Applications

This note gives a simple, but useful characterization of optimism and pessimism represented by a convex and concave shift of probability weighting functions, and applies it to two comparative static analysis.

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Year of publication:	2007
Authors:	Osaki, Yusuke ; Quiggin, John
Institutions:	School of Economics, University of Queensland
Subject:	Optimism \| pessimism \| rank dependent expected utility \| risk–neutral decision weight \| Research Methods/ Statistical Methods \| Risk and Uncertainty

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Extent:	application/pdf
Series:	Risk and Sustainable Management Group Working Papers.
Type of publication:	Book / Working Paper
Notes:	The text is part of a series School of Economics>Risk and Sustainable Management Group Working Papers Number 151180
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10010911009