Pennings, J.M.E.; Smidts, Smidts, A. - Erasmus Research Institute of Management (ERIM), … - 2002
Based on measurements with 332 owner-managers, the global shape of the utility function (i.e., S-shaped versus concave or convex over the total range of outcomes) appears to discriminate organizational behavior. Whereas the degree of risk aversion, based on the local shape of the utility...