Characterization of left-monotone risk aversion in the RDEU model (Q414609)

Several notions of risk aversion can be distinguished for the class of rank-dependent expected utility (RDEU) preferences. In this paper the authors extend the characterization of the left-monotone risk aversion developed by \textit{M. J. Ryan} [J. Math. Econ. 42, No. 6, 675--697 (2006; Zbl 1142.91596)] to the case of unbounded random variables. The characterization of the right-monotone risk aversion for unbounded random variables is also mentioned. A gap in the proof of the main result of Ryan [loc. cit.] is removed.