Background Risk in Generalized Expected Utility Theory
In this paper, it is shown that, for a wide range of risk-averse generalized expected utility preferences, independent risks are complementary, contrary to the results for expected utility preferences satisfying conditions such as proper and standard risk aversion.
Veröffentlicht in: | Economic Theory. - Springer, 1991. - 22(2003), 3, Seite 607-611 |
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1. Verfasser: | |
Format: | Online-Aufsatz |
Sprache: | English |
Veröffentlicht: |
2003
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Zugriff auf das übergeordnete Werk: | Economic Theory |
Schlagworte: | Background risk Constant risk aversion Generalized expected utility theory D8 Economics Mathematics Philosophy Business |
Zusammenfassung: | In this paper, it is shown that, for a wide range of risk-averse generalized expected utility preferences, independent risks are complementary, contrary to the results for expected utility preferences satisfying conditions such as proper and standard risk aversion. |
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ISSN: | 14320479 |