کد مقاله | کد نشریه | سال انتشار | مقاله انگلیسی | نسخه تمام متن |
---|---|---|---|---|
9552765 | 1374146 | 2005 | 9 صفحه PDF | دانلود رایگان |
عنوان انگلیسی مقاله ISI
Degree of downside risk aversion and self-protection
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موضوعات مرتبط
مهندسی و علوم پایه
ریاضیات
آمار و احتمال
پیش نمایش صفحه اول مقاله
چکیده انگلیسی
This paper shows that, identifying individuals with their utility functions, âvâ´(x)/vâ³(x)â¤âuâ´(x)/uâ³(x) for all x implies that individual v's optimal choice of self-protection expenditure is larger than individual u's, provided that marginal increases in self-protection expenditure from u's optimal choice are mean-preserving. The result clarifies the relationship between self-protection and downside risk aversion and underscores the interpretation of âuâ´(x)/uâ³(x) as a measure of the strength of u's downside risk aversion relative to his own risk aversion because a mean-preserving increase in self-protection expenditure is shown to effect a special combination of a downside risk increase and a mean-preserving contraction.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Insurance: Mathematics and Economics - Volume 36, Issue 1, 22 February 2005, Pages 93-101
Journal: Insurance: Mathematics and Economics - Volume 36, Issue 1, 22 February 2005, Pages 93-101
نویسندگان
W.Henry Chiu,