The existing literature on savings, insurance, and portfolio choices under risk has revealed that quite often comparative statics results depend, among other things, upon the values of the coefficients of relative risk aversion and relative prudence. More specifically the benchmark values for...

Fishburn and Vickson (Stochastic dominance: an approach to decision-making under risk, Lexington Books, D.C. Heath and Company, Lexington, pp. 39–113, <CitationRef CitationID="CR16">1978</CitationRef>) showed that, when applied to random alternatives with an equal mean, 3rd-degree and decreasing absolute risk aversion stochastic...</citationref>