Asset Demand Without the Independence Axiom

DOI10.2307/1912577zbMath0666.90013OpenAlexW2064875117WikidataQ114590256 ScholiaQ114590256MaRDI QIDQ3818771

Eddie Dekel

Publication date: 1989

Published in: Econometrica (Search for Journal in Brave)

Full work available at URL: https://doi.org/10.2307/1912577

zbMATH Keywords

expected utilityrisk aversionindependence axiomportfolio diversificationasset markets

Mathematics Subject Classification ID

Related Items (18)

Preferences over rich sets of random variables: on the incompatibility of convexity and semicontinuity in measure ⋮ An axiomatic characterization of preferences under uncertainty: Weakening the independence axiom ⋮ From sure to strong diversification ⋮ Preferences and metric structures of spaces of alternatives ⋮ Schur convexity, quasi-convexity and preference for early resolution of uncertainty ⋮ Skewed noise ⋮ Decisions under risk and uncertainty: A survey of recent developments ⋮ Probabilistic sophistication, second order stochastic dominance and uncertainty aversion ⋮ Concave/convex weighting and utility functions for risk: a new light on classical theorems ⋮ Effects of uncertainty aversion on the call option market ⋮ When a combination of convexity and continuity forces monotonicity of preferences ⋮ Preferences over all random variables: incompatibility of convexity and continuity ⋮ Risk sharing in the small and in the large ⋮ Diversification preferences in the theory of choice ⋮ Equilibrium without independence ⋮ Constant risk aversion ⋮ Gains from diversification on convex combinations: a majorization and stochastic dominance approach ⋮ Comparative statics in an ordinal theory of choice under risk

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