On the utility premium of Friedman and Savage

DOI10.1016/J.ECONLET.2009.05.018zbMath1178.91076OpenAlexW2137192863MaRDI QIDQ1046247

Harris Schlesinger, Louis R. Eeckhoudt

Publication date: 21 December 2009

Published in: Economics Letters (Search for Journal in Brave)

Full work available at URL: https://doi.org/10.1016/j.econlet.2009.05.018

zbMATH Keywords

precautionary savingprudencerisk aversionrisk premiumutility premium

Mathematics Subject Classification ID

Utility theory (91B16)

Related Items (13)

The probability premium: a graphical representation ⋮ Precautionary saving: a taxonomy of prudence ⋮ Prudence probability premium ⋮ Comparing utility derivative premia under additive and multiplicative risks ⋮ Substituting one risk increase for another: a method for measuring risk aversion ⋮ Precautionary saving in the large: \(n\)th degree deteriorations in future income ⋮ New results on precautionary saving under two risks ⋮ Health and portfolio choices: a diffidence approach ⋮ The utility premium of Friedman and Savage, comparative risk aversion, and comparative prudence ⋮ Decreasing higher-order absolute risk aversion and higher-degree stochastic dominance ⋮ Comparative higher-order risk aversion and higher-order prudence ⋮ Changes in multiplicative risks and optimal portfolio choice: new interpretations and results ⋮ The monetary utility premium and interpersonal comparisons

Cites Work

• First order versus second order risk aversion
• Risk Aversion in the Small and in the Large

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