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Risk aversion and prudence in the large

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  • Eisenhauer, Joseph G.

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  • Eisenhauer, Joseph G., 2006. "Risk aversion and prudence in the large," Research in Economics, Elsevier, vol. 60(4), pages 179-187, December.
    • Handle: RePEc:eee:reecon:v:60:y:2006:i:4:p:179-187
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    1. Sydney Ludvigson & Christina H. Paxson, 2001. "Approximation Bias In Linearized Euler Equations," The Review of Economics and Statistics, MIT Press, vol. 83(2), pages 242-256, May.
    2. Siegel, Frederick W & Hoban, James P, Jr, 1982. "Relative Risk Aversion Revisited," The Review of Economics and Statistics, MIT Press, vol. 64(3), pages 481-487, August.
    3. Jordi Caballe & Joan Esteban, 2007. "Stochastic Dominance and Absolute Risk Aversion," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 28(1), pages 89-110, January.
    4. Richard Watt, 2002. "Defending Expected Utility Theory: Comment," Journal of Economic Perspectives, American Economic Association, vol. 16(2), pages 227-229, Spring.
    5. Don Bellante & Richard P. Saba, 1986. "Human Capital And Life-Cycle Effects On Risk Aversion," Journal of Financial Research, Southern Finance Association;Southwestern Finance Association, vol. 9(1), pages 41-51, March.
    6. Kimball, Miles S, 1990. "Precautionary Saving in the Small and in the Large," Econometrica, Econometric Society, vol. 58(1), pages 53-73, January.
    7. CHANDER, Parkash, 2000. "A simple measure of risk aversion in the large and an application," LIDAM Discussion Papers CORE 2000041, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
    8. Matthew Rabin, 2000. "Risk Aversion and Expected-Utility Theory: A Calibration Theorem," Econometrica, Econometric Society, vol. 68(5), pages 1281-1292, September.
    9. Kihlstrom, Richard E. & Mirman, Leonard J., 1974. "Risk aversion with many commodities," Journal of Economic Theory, Elsevier, vol. 8(3), pages 361-388, July.
    10. Palacios-Huerta, Ignacio & Serrano, Roberto, 2006. "Rejecting small gambles under expected utility," Economics Letters, Elsevier, vol. 91(2), pages 250-259, May.
    11. Connel Fullenkamp & Rafael Tenorio & Robert Battalio, 2003. "Assessing Individual Risk Attitudes Using Field Data From Lottery Games," The Review of Economics and Statistics, MIT Press, vol. 85(1), pages 218-226, February.
    12. Joseph G. Eisenhauer, 2003. "Approximation bias in estimating risk aversion," Economics Bulletin, AccessEcon, vol. 4(38), pages 1-10.
    13. Hayne E. Leland, 1968. "Saving and Uncertainty: The Precautionary Demand for Saving," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 82(3), pages 465-473.
    14. repec:ebl:ecbull:v:4:y:2003:i:38:p:1-10 is not listed on IDEAS
    15. Rothschild, Michael & Stiglitz, Joseph E., 1970. "Increasing risk: I. A definition," Journal of Economic Theory, Elsevier, vol. 2(3), pages 225-243, September.
    16. Duncan, George T, 1977. "A Matrix Measure of Multivariate Local Risk Aversion," Econometrica, Econometric Society, vol. 45(4), pages 895-903, May.
    17. Karni, Edi, 1979. "On Multivariate Risk Aversion," Econometrica, Econometric Society, vol. 47(6), pages 1391-1401, November.
    18. Milton Friedman & L. J. Savage, 1948. "The Utility Analysis of Choices Involving Risk," Journal of Political Economy, University of Chicago Press, vol. 56, pages 279-279.
    19. Joseph G. Eisenhauer, 2006. "An integral index for measuring aversion to large-scale risks," Studies in Economics and Finance, Emerald Group Publishing, vol. 23(3), pages 202-210, August.
    20. Marco G. Ercolani, 2004. "Risk aversion and risk loving in the small: a decomposition of the multivariate risk premium," Bulletin of Economic Research, Wiley Blackwell, vol. 56(1), pages 81-106, January.
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    Cited by:

    1. Joseph G Eisenhauer, 2012. "Measuring Aversion to Health Risks," Journal of Economics and Behavioral Studies, AMH International, vol. 4(2), pages 96-107.
    2. Joseph G. Eisenhauer, 2010. "Relative Risk Aversion as an Arc Elasticity," Risk Management and Insurance Review, American Risk and Insurance Association, vol. 13(1), pages 161-172, March.
    3. Eisenhauer Joseph G., 2010. "A Simple Metric for Gauging Risk Aversion," Asia-Pacific Journal of Risk and Insurance, De Gruyter, vol. 4(2), pages 1-12, July.
    4. Donatella Baiardi & Marco Magnani & Mario Menegatti, 2020. "The theory of precautionary saving: an overview of recent developments," Review of Economics of the Household, Springer, vol. 18(2), pages 513-542, June.
    5. Luís Pacheco & Júlio Lobão & Sílvia Coelho, 2023. "Gender and Risk Aversion: Evidence from a Natural Experiment," Games, MDPI, vol. 14(3), pages 1-16, June.
    6. John Michael Humphries Choptiany & Ronald Pelot, 2014. "A Multicriteria Decision Analysis Model and Risk Assessment Framework for Carbon Capture and Storage," Risk Analysis, John Wiley & Sons, vol. 34(9), pages 1720-1737, September.
    7. Eisenhauer, Joseph G., 2010. "Rank-ordering of risk preferences with conventional and discrete measures," The Quarterly Review of Economics and Finance, Elsevier, vol. 50(3), pages 291-297, August.

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