Risk Aversion for State-Dependent Utility Functions: Measurement and Applications

DOI10.2307/2648791zbMath0524.90010OpenAlexW2033729750MaRDI QIDQ3037067

Edi Karni

Publication date: 1983

Published in: International Economic Review (Search for Journal in Brave)

Full work available at URL: http://ageconsearch.umn.edu/record/275322

zbMATH Keywords

reference setstate-dependent preferencesmeasure of risk aversionabsolute risk aversion

Mathematics Subject Classification ID

Decision theory (91B06) Utility theory (91B16)

Related Items (20)

Conditional payments and self-protection ⋮ Mean utility preserving increases in risk for state dependent utility functions ⋮ Rudiments of insurance purchasing: A graphical state-claims analysis ⋮ Self-insurance, self-protection and increased risk aversion ⋮ Optimal health insurance contract: is a deductible useful? ⋮ Preference robust state-dependent distortion risk measure on act space and its application in optimal decision making ⋮ Firm's hedging behavior without the expected utility hypothesis ⋮ Equilibrium investment with random risk aversion ⋮ Optimal consumption, investment, and insurance under state-dependent risk aversion ⋮ Time-Inconsistent Portfolio Investment Problems ⋮ Comparative Risk Aversion for State-Dependent Preferences ⋮ Risk and risk aversion for state-dependent utility ⋮ Concavity, stochastic utility, and risk aversion ⋮ The value of a statistical life under ambiguity aversion ⋮ A class of stochastic Fredholm-algebraic equations and applications in finance ⋮ Stochastic dynamic utilities and intertemporal preferences ⋮ Increasing risk with state-dependent preferences ⋮ Characterizing the efficient set when preferences are state-dependent ⋮ Living without state-independence of utilities ⋮ On the risk-aversion comparability of state-dependent utility functions

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