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Bernoulli-Prinzip und Risikoeinstellung

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  • Michael Bitz

    (FernUniversität Hagen)

Abstract

Summary One important and generally accepted result of the long-lasting discussion in german literature is the compatibility of Expected Utility Theory (EUT) with different types of risk preference. Recently, however, there was presented the argument, that EUT is only compatible with risk neutrality. This paper shows the main inconsistencies of this argument, especially the incorrect interpretation of the formal structure of EUT.

Suggested Citation

  • Michael Bitz, 1998. "Bernoulli-Prinzip und Risikoeinstellung," Schmalenbach Journal of Business Research, Springer, vol. 50(10), pages 916-932, October.
    • Handle: RePEc:spr:sjobre:v:50:y:1998:i:10:d:10.1007_bf03371540
    DOI: 10.1007/BF03371540
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    References listed on IDEAS

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    1. Pfohl, Hans-Christian & Braun, G., 1981. "Entscheidungstheorie. Normative und deskriptive Grundlagen des Entscheidens," Publications of Darmstadt Technical University, Institute for Business Studies (BWL) 41746, Darmstadt Technical University, Department of Business Administration, Economics and Law, Institute for Business Studies (BWL).
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