Qiu, Jianying; Steiger, Eva-Maria - Max-Planck-Institut für Ökonomik <Jena> / Abteilung … - 2009
Economics and management science share the tradition of ordering risk aversionby fitting the best expected utility (EU …) model with a certain utility function to in-dividual data, and then using the utility curvature for each individual as the … introduced the weighting of probabilities as anadditional component to capture risk attitude. However, if utility curvature and …