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function takes the form of cubic parabola, where the risk aversion behavior ends at the saddle point of the comprehensive … the ambiguity of the departure from risk-neutrality. This ambiguity can produce the ordinary risk seeking behavior as well … as mathematical catastrophes of Veblen-effect’s imprudence and over prudence of family altruism. The comeback to risk …
Persistent link: https://www.econbiz.de/10011267888
comparative static analysis of the saddle point of the utility function discovers the ambiguity of the departure from risk …-neutrality. This ambiguity can produce the ordinary risk seeking behavior as well as mathematical catastrophes of Veblen …-effect’s imprudence and over prudence of family altruism. The comeback to risk aversion is also ambiguous and it results either in …
Persistent link: https://www.econbiz.de/10011114358