Cohen, Michèle; Meilijson, Isaac - In: Economic Theory 55 (2014) 3, pp. 619-642
Victor prefers safety more than Ursula if whenever Ursula prefers a constant to an uncertain act, so does Victor. This paradigm, whose expected utility (EU) version is Arrow and Pratt’s more risk aversion concept, will be studied in the Choquet expected utility (CEU) model. Necessary condition...