First order versus second order risk aversion
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Cites work
- "Expected Utility" Analysis without the Independence Axiom
- A Generalization of the Quasilinear Mean with Applications to the Measurement of Income Inequality and Decision Theory Resolving the Allais Paradox
- Consumer's Surplus, Price Instability, and Consumer Welfare
- scientific article; zbMATH DE number 3151129 (Why is no real title available?)
- scientific article; zbMATH DE number 3342731 (Why is no real title available?)
- Knightian decision theory. I.
- Risk Aversion in the Small and in the Large
- Risk aversion in the theory of expected utility with rank dependent probabilities
- The Dual Theory of Choice under Risk
Cited in
(52)- On the utility premium of Friedman and Savage
- Decomposing catastrophic risk
- Observing different orders of risk aversion
- Growth trends, cyclical fluctuations, and welfare with non-expected utility preferences
- Preferences and metric structures of spaces of alternatives
- Endogenous fixprices and sticky price adjustment of risk-averse firms
- Ellsberg's two-color experiment, portfolio inertia and ambiguity.
- An index of loss aversion
- Coherent odds and subjective probability
- Strategic complements, substitutes, and Ambiguity: the implications for public goods.
- Economic choice in generalized expected utility theory
- Rejecting small gambles under expected utility
- Option price without expected utility
- A critical look at the Aumann-Serrano and Foster-Hart measures of riskiness
- Portfolio choice in the model of expected utility with a safety-first component
- Portfolio concentration, portfolio inertia, and ambiguous correlation
- Financial risk taking in the presence of correlated non-financial background risk
- Preferences with frames: A new utility specification that allows for the framing of risks
- First-order risk aversion and non-differentiability
- Optimal investment with deferred capital gains taxes
- Local risk aversion in the rank dependent expected utility model: first order versus second order effects
- Imperfect memory and choice under risk
- Optimal portfolio with vector expected utility
- Lifetime consumption-portfolio choice under trading constraints, recursive preferences, and nontradeable income
- Uncertainty aversion and aversion to increasing uncertainty
- Optimal lifetime consumption-portfolio strategies under trading constraints and generalized recursive preferences.
- Mean-risk analysis with enhanced behavioral content
- Confidence band for expectation dependence with applications
- Dynamic trading with reference point adaptation and loss aversion
- Decisions under risk and uncertainty: A survey of recent developments
- Optimal portfolio under state-dependent expected utility
- When can expected utility handle first-order risk aversion?
- Aggregation of preferences for skewed asset returns
- Dual moments and risk attitudes
- Portfolio performance evaluation with loss aversion
- Myopic loss aversion, reference point, and money illusion
- A verification of the expected utility calibration theorem
- Forward rank‐dependent performance criteria: Time‐consistent investment under probability distortion
- Testing Hurwicz expected utility
- Never stop or never start? Optimal stopping under a mixture of CPT and EUT preferences
- Risk attitudes in axiomatic decision theory: a conceptual perspective
- Stochastic impatience and the separation of time and risk preferences
- Optimal portfolio choice under kinked power utility
- Quantal response equilibrium and overbidding in private-value auctions
- On the economic meaning of Machina's Fréchet differentiability assumption
- Portfolio choice under loss aversion and diminishing sensitivity: a theoretical extension
- The participation puzzle with reference-dependent expected utility preferences
- Anchored preference relations
- Loss aversion, survival and asset prices
- Calibration without reduction for non-expected utility
- Hurwicz expected utility and subjective sources
- Comparative statics for state-contingent technologies
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