When does aggregation reduce risk aversion?

DOI10.1016/j.geb.2012.07.015zbMath1250.91043OpenAlexW2102138481MaRDI QIDQ2276555

Christopher P. Chambers, Federico Echenique

Publication date: 6 November 2012

Published in: Games and Economic Behavior (Search for Journal in Brave)

Full work available at URL: https://authors.library.caltech.edu/36922/

zbMATH Keywords

aggregationcertainty equivalentrisk aversionsum of individual certainty equivalents

Mathematics Subject Classification ID

Related Items (14)

Efficiency, equity, and social rationality under uncertainty ⋮ Individual vs. couple behavior: an experimental investigation of risk preferences ⋮ Fair management of social risk ⋮ The ex ante aggregation of opinions under uncertainty ⋮ Time‐consistent fair social choice ⋮ Comparing uncertainty aversion towards different sources ⋮ Possibilistic risk aversion in group decisions: theory with application in the insurance of giga-investments valued through the fuzzy pay-off method ⋮ Inequality aversion and risk aversion ⋮ Aggregation of multiple prior opinions ⋮ Decisions with conflicting and imprecise information ⋮ Fair criteria for social decisions under uncertainty ⋮ Separate aggregation of beliefs and values under ambiguity ⋮ Planning for the long run: programming with patient, Pareto responsive preferences ⋮ Utilitarianism without individual utilities

Cites Work

• Unnamed Item
• Unnamed Item
• Uncertainty averse preferences
• Ambiguity made precise: A comparative foundation
• A theory of subjective compound lotteries
• Ambiguity through confidence functions
• Maxmin expected utility with non-unique prior
• On social welfare functions and the aggregation of preferences
• Separating marginal utility and probabilistic risk aversion
• Risk seeking with diminishing marginal utility in a non-expected utility model
• Optimal risk-sharing rules and equilibria with Choquet-expected-utility.
• On equilibria when agents have multiple priors
• Wealth Inequality and Asset Pricing
• Subjective Beliefs and ex ante Trade
• Vector Expected Utility and Attitudes Toward Variation
• Ambiguity and Second-Order Belief
• Subjective Probability and Expected Utility without Additivity
• Uncertainty Aversion, Risk Aversion, and the Optimal Choice of Portfolio
• A More Robust Definition of Subjective Probability
• On the Interpretation of the Nash Bargaining Solution and Its Extension to Non-Expected Utility Preferences
• A Definition of Uncertainty Aversion
• Intertemporal Asset Pricing under Knightian Uncertainty
• Sharing Beliefs: Between Agreeing and Disagreeing
• Ambiguity Aversion, Robustness, and the Variational Representation of Preferences
• Uncertainty and Risk in Financial Markets
• A Smooth Model of Decision Making under Ambiguity
• Continuity Properties of Paretian Utility
• Equilibrium in a Reinsurance Market

This page was built for publication: When does aggregation reduce risk aversion?