Putting Risk in its Proper Place
Putting Risk in its Proper Place
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DOI：
10.2139/ssrn.713282
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发表时间：
2005-05
期刊：
影响因子：
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通讯作者：
Louis Eeckhoudt;Harris Schlesinger
中科院分区：
文献类型：
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作者：
Louis Eeckhoudt;Harris Schlesinger
本文探讨对特定类别的彩票对的偏好。我们展示了如何概念，如谨慎和节制，可以充分的特点是这些彩票的偏好关系。如果偏好是在期望效用框架中定义的，且效用是可微的，那么对特定类别的彩票对的偏好方向就相当于对效用函数的n阶导数进行签名。使我们的描述吸引人的是它的简单性，这似乎特别适合实验。
This paper examines preferences towards particular classes of lottery pairs. We show how concepts such as prudence and temperance can be fully characterized by a preference relation over these lotteries. If preferences are defined in an expected-utility framework with differentiable utility, the direction of preference for a particular class of lottery pairs is equivalent to signing the nth derivative of the utility function. What makes our characterization appealing is its simplicity, which seems particularly amenable to experimentation.