Observing different orders of risk aversion

DOI10.1007/BF01064202MaRDI QIDQ1341564zbMATH OpenFDO

Authors Graham Loomes, Uzi Segal

Publication date 5 January 1995

Published in Journal of Risk and Uncertainty (Search for Journal in Brave)

Full work available at URL https://doi.org/10.1007/BF01064202

zbMATH Keywords

decision makers' attitudes toward riskexperimental economicsrisk attitude

Mathematics Subject Classification ID

Decision theory (91B06)

Recommendations

• First order versus second order risk aversion
• Consistency of higher order risk preferences
• Risk perception, risk attitude, and decision: a rank-dependent analysis
• Risk aversion in RDEU
• Local risk aversion in the rank dependent expected utility model: first order versus second order effects

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
• A Theory of Disappointment Aversion
• Advances in prospect theory: cumulative representation of uncertainty
• Anticipated utility: A measure representation approach
• Comparative statics and non-expected utility preferences
• Evidence of a new violation of the independence axiom
• First order versus second order risk aversion
• First-order risk aversion and non-differentiability
• 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
• The risk aversion measure without the independence axiom

Cited in

(18)

• The risk-structure dependence effect: Experimenting with an eye to decision-aiding
• Does risk aversion or attraction depend on income? An experiment
• Arrow-Pratt risk aversion, risk premium and decision weights
• Rejecting small gambles under expected utility
• On the relationship between comparisons of risk aversion of different orders
• First-order risk aversion and non-differentiability
• Local risk aversion in the rank dependent expected utility model: first order versus second order effects
• Risk attitude and metric Bernoulli-decision-rule
• Confidence band for expectation dependence with applications
• Exploring the consistency of higher order risk preferences
• Consistency of higher order risk preferences
• When can expected utility handle first-order risk aversion?
• Testing for risk aversion: A stochastic dominance approach
• Testing Hurwicz expected utility
• On the economic meaning of Machina's Fréchet differentiability assumption
• First order versus second order risk aversion
• History-dependent risk attitude
• A re-examination of Harrison's experimental test for risk aversion

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