Should More Risk-Averse Agents Exert More Effort?
AbstractConsider an agent facing a risky distribution of losses who can change this distribution by exerting some effort. Should be exert more effort when he becomes more risk-averse? For instance, should we expect more risk-averse drivers to drive more cautiously? In this paper, we give sufficient conditions under which the answer is positive, using results presented in Jewitt (1989).
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Bibliographic InfoPaper provided by Toulouse - GREMAQ in its series Papers with number 98.489.
Length: 10 pages
Date of creation: 1998
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Other versions of this item:
- D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty
- D83 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Search, Learning, and Information
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