On the definition of risk aversion (Q753618)
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scientific article; zbMATH DE number 4181063
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| default for all languages | No label defined |
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| English | On the definition of risk aversion |
scientific article; zbMATH DE number 4181063 |
Statements
On the definition of risk aversion (English)
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1990
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Two definitions of risk aversion are given. The former refers the measure of risk aversion to the risk premium. The latter defines risk aversion as a decreasing preference for an increasing risk. If the von Neumann- Morgenstern utility function exists both definitions are equivalent, in the other case not. Examples are given.
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nonexpected utility
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risk aversion
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risk premium
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0.8511577844619751
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0.8432368636131287
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0.8407103419303894
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0.8379561901092529
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0.8372449278831482
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