Gollier, Christian; Hammitt, James; Treich, Nicolas - In: Journal of Risk and Uncertainty 47 (2013) 2, pp. 129-145
The economic theory of decision making under risk has seen remarkable advances over the 50 years since Pratt’s (1964 …) characterization of risk aversion under expected utility. We review developments in three key areas to which Louis Eeckhoudt has made … significant contributions: (1) increases in risk and risk taking; (2) self-protection and risk aversion; and (3) higher (and lower …