Some conditions for the equivalence between risk aversion, prudence and temperance

DOI10.1007/S11238-020-09745-5MaRDI QIDQ2193071zbMATH OpenOpenAlexFDO

Authors Mario Menegatti, Marzia De Donno

Publication date 24 August 2020

Published in Theory and Decision (Search for Journal in Brave)

Full work available at URL https://doi.org/10.1007/s11238-020-09745-5

zbMATH Keywords

\(n\)th-degree risk aversionprudencerisk aversiontemperanceutility theory

Mathematics Subject Classification ID

Utility theory (91B16)

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Cites work

• A Class of Utility Functions Containing all the Common Utility Functions
• Apportioning of risks via stochastic dominance
• Changes in Background Risk and Risk Taking Behavior
• Changes in multiplicative risks and optimal portfolio choice: new interpretations and results
• scientific article; zbMATH DE number 1724304 (Why is no real title available?)
• Increasing outer risk
• Microeconomic theory
• Mixed risk aversion
• New results on high-order risk changes
• New results on the relationship among risk aversion, prudence and temperance
• On relative and partial risk attitudes: theory and implications
• On the conditions for precautionary saving
• On the relationship between absolute prudence and absolute risk aversion
• Optimal prevention and prudence in a two-period model
• Risk aversion, prudence, and asset allocation: a review and some new developments
• Risk Vulnerability and the Tempering Effect of Background Risk
• Stochastic Dominance
• The asymptotic elasticity of utility functions and optimal investment in incomplete markets
• The effects of stochastic wages and non-labor income on labor supply: update and extensions
• The impact of prudence on optimal prevention
• The value of risk reduction: new tools for an old problem

Cited in

(10)

• More on parametric characterizations of risk aversion and prudence
• On the relationship between comparisons of risk aversion of different orders
• On temperance and risk spreading
• New results on the relationship among risk aversion, prudence and temperance
• Prudence, temperance, edginess, and risk apportionment as decreasing sensitivity to detrimental changes
• Preferences on discounting under time risk
• Risk-aversion, prudence and temperance
• Preferences over risk changes in variance
• Price uncertainty and the heightening effect of background risk
• Changing the timing of risk

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