Cadogan, Godfrey - In: Economics Bulletin 32 (2012) 4, pp. 34-34
We introduce a representation theory for risk operations on locally compact groups in a partition of unity on a topological manifold for Markowitz-Tversky-Kahneman (MTK) reference points. We identify (1) emph{risk torsion} induced by the flip rate for risk averse and risk seeking behaviour, and...