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A note on the generalised measures of risk aversion

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  • Biswas, Tapan

Abstract

(Originally published in Journal of Economic Theory (1983), 29, 347-352) - This paper is concerned with generalised scalar measures of risk aversion. A measure R which may meaningfully be applied to both unidimensional risks (risk in income or wealth) and multidimensional risks has been constructed. In case of iden- tical preferences, we have also constructed an alternative measure of risk aversion R* which is shown to be related to the Khilstrom-Mirman measure. This relationship explains the nature of the Khilstrom-Mirman measure. Journal of Economic Literature Classification Numbers: 021, 022, 026.
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  • Biswas, Tapan, 1983. "A note on the generalised measures of risk aversion," Journal of Economic Theory, Elsevier, vol. 29(2), pages 347-352, April.
    • Handle: RePEc:eee:jetheo:v:29:y:1983:i:2:p:347-352
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    Cited by:

    1. Tapan Biswas & Jolian Mchardy, 2012. "Asking Price And Price Discounts: The Strategy Of Selling An Asset Under Price Uncertainty," Review of Economic Analysis, Digital Initiatives at the University of Waterloo Library, vol. 4(1), pages 17-37, June.
    2. DREZE , Jacques H. & RUSTICHINI, Aldo, 2000. "State-dependent utility and decision theory," LIDAM Discussion Papers CORE 2000007, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).

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