Bringing order to rankings of utility functions by strong increases in nth order aversion to risk
Sign Up to like & getrecommendations! Published in 2018 at "Journal of Mathematical Economics"
DOI: 10.1016/j.jmateco.2018.07.004
Abstract: Abstract Rankings of utility functions generated by simple n th order risk-averse transformations are not partial orders, and therefore, do not yield reliable comparative statics predictions, except at the second order. Restrictions have been identified… read more here.
Keywords: utility functions; risk; order; aversion risk ... See more keywords