Ryu, Suyeol; Kim, Iltae - In: Theory and Decision 57 (2004) 1, pp. 59-68
This paper introduces a new concept of left-side strong increases in risk (L-SIR) that extends the definition of strong increases in risk (SIR). We also provide somewhat stronger restrictive set of risk-averse decision-makers with a non-negative third derivative utility (prudence) to obtain an...