Stronger measures of higher-order risk attitudes

This paper aims to extend the results by Ross (1981) [15] and by Modica and Scarsini (2005) [13] to stochastic dominance of degree 4 and over. Specifically, it is shown that Ross' approach can be extended to any order of risk attitude beyond the generalization proposed by Modica and Scarsini by means of sth degree increase in risk defined by Ekern (1980) [8].

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Year of publication:	2010
Authors:	Denuit, Michel M. ; Eeckhoudt, Louis
Published in:	Journal of Economic Theory. - Elsevier, ISSN 0022-0531. - Vol. 145.2010, 5, p. 2027-2036
Publisher:	Elsevier
Keywords:	Risk aversion Downside risk Prudence Temperance Increase in risk Risk apportionment

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Type of publication:	Article
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10008860974