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)

zbMATH Keywords

experimental economicsrisk attitudedecision makers' attitudes toward risk

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

(17)

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

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