Fear of ruin

被引：19

作者：

Foncel, J

Treich, N ^{[1
]}

机构：

[1] Univ Toulouse, Gremars, Toulouse, France

[2] Univ Toulouse, Lerna Inra, Toulouse, France

来源：

JOURNAL OF RISK AND UNCERTAINTY | 2005年 / 31卷 / 03期

关键词：

risk-aversion; expected utility; Arrow-Pratt coefficient; auctions; value-of-life;

D O I：

10.1007/s11166-005-5104-8

中图分类号：

F8 [财政、金融];

学科分类号：

0202 ;

摘要：

This paper offers interpretations and applications of the "fear of ruin" coefficient (Aumann and Kurz, 1977, Econometrica). This coefficient is useful for analyzing the behavior of expected utility maximizers when they face binary lotteries with the same worse outcome. Comparative statics results of "more fear of ruin" are derived. The partial ordering induced by the fear of ruin coefficient is shown to be weaker than that induced by the Arrow-Pratt coefficient.

引用

页码：289 / 300

页数：12

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