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A Note on the Generalised Measures of Risk Aversion



    (Department of Economics, University of Hull)


(Originally published in Journal of Economic Theory (1983), 29, 347-352) - This paper is concerned with generalised scalar measures of risk aversion. A measure R which may meaningfully be applied to both unidimensional risks (risk in income or wealth) and multidimensional risks has been constructed. In case of iden- tical preferences, we have also constructed an alternative measure of risk aversion R* which is shown to be related to the Khilstrom-Mirman measure. This relationship explains the nature of the Khilstrom-Mirman measure. Journal of Economic Literature Classification Numbers: 021, 022, 026.

Suggested Citation

  • Tapan Biswas, 2012. "A Note on the Generalised Measures of Risk Aversion," Review of Economic Analysis, Rimini Centre for Economic Analysis, vol. 4(1), pages 151-156, June.
  • Handle: RePEc:ren:journl:v:4:y:2012:i:1:p:151-156

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    Cited by:

    1. Tapan Biswas & Jolian Mchardy, 2012. "Asking Price And Price Discounts: The Strategy Of Selling An Asset Under Price Uncertainty," Review of Economic Analysis, Rimini Centre for Economic Analysis, vol. 4(1), pages 17-37, June.
    2. DREZE , Jacques H. & RUSTICHINI, Aldo, 2000. "State-dependent utility and decision theory," CORE Discussion Papers 2000007, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).

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