On the risk-aversion comparability of state-dependent utility functions
type: Item
instance of: scholarly article
title: On the risk-aversion comparability of state-dependent utility functions
zbMATH Open document ID: 0588.90008
DOI: 10.1007/BF00126595
author: Gerald L. Nordquist
published in: Theory and Decision
publication date: 1985-01-01T00:00:00Z
review text: This paper proposes a criterion for the partial ordering of state- dependent utility functions according to risk attitude. It is proved that if two or more state-dependent utility functions satisfy a global condition on cross-state marginal utilities on the set of sure wealths, then they can be compared by means of Arrow-Pratt measures of risk aversion. This criterion is contrasted with that proposed by \textit{E. Karni} [Int. Econ. Rev. 24, 637-647 (1983; Zbl 0524.90010)].
Mathematics Subject Classification ID: 91B16
zbMATH DE Number: 3945825
zbMATH Keywords: partial ordering of state-dependent utility functions
zbMATH Keywords: Arrow-Pratt measures of risk aversion
MaRDI profile type: Publication
cites work: Q5618987
cites work: Optimal insurance and generalized deductibles
cites work: Risk Aversion for State-Dependent Utility Functions: Measurement and Applications
cites work: On State Dependent Preferences and Subjective Probabilities
cites work: Multivariate decision-making
cites work: Risk Aversion in the Small and in the Large
description: scientific article; zbMATH DE number 3945825