How does risk aversion affect choices when expenses improve probabilities? Attempts to answer this question in the literature found an endogenous switching probability. In this paper we introduce a new concept of comparative attitude to risl, namely proper risk behavior and determine 1/2 as the threshold probability over which a more proper risk behavior agent becomes a gambler.
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Paper provided by Paris X - Nanterre, U.F.R. de Sc. Ec. Gest. Maths Infor. in its series Papers with number
99-27.
Length: 23 pages Date of creation: 1999 Date of revision: Handle: RePEc:fth:pnegmi:99-27
Contact details of provider: Postal: THEMA, Universite de Paris X-Nanterre, U.F.R. de science economiques, gestion, mathematiques et informatique, 200, avenue de la Republique 92001 Nanterre CEDEX.
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K. Dachraoui & G. Dionne & L. Eeckhoudt & P. Godfroid, 1999.
"Proper risk behavior,"
THEMA Working Papers
99-27, THEMA (THéorie Economique, Modélisation et Applications), Université de Cergy-Pontoise.
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Find related papers by JEL classification: D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty D10 - Microeconomics - - Household Behavior - - - General
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