Stronger measures of higher-order risk attitudes
AbstractThis paper aims to extend the results by Ross (1981)  and by Modica and Scarsini (2005)  to stochastic dominance of degree 4 and over. Specifically, it is shown that Ross' approach can be extended to any order of risk attitude beyond the generalization proposed by Modica and Scarsini by means of sth degree increase in risk defined by Ekern (1980) .
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Bibliographic InfoArticle provided by Elsevier in its journal Journal of Economic Theory.
Volume (Year): 145 (2010)
Issue (Month): 5 (September)
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Web page: http://www.elsevier.com/locate/inca/622869
Risk aversion Downside risk Prudence Temperance Increase in risk Risk apportionment;
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