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Left-side Relatively Strong Increases in Risk and Their Comparative Statics
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- Authors
- Issue Date
- 2005-01
- Citation
- Seoul Journal of Economics, Vol.18 No.1, pp. 45-58
- Keywords
- Left-side Relatively strong increases in risk ; Prudence ; Relatively strong increases in risk
- Abstract
- This paper proposes a new concept. a left-side relatively strong increase in risk (L-RSIR) order that extends the definition of a relatively strong increase in risk (RSIR) order. We show that for the class of linear payoffs, one can obtain an appealing comparative statics result for L-RSIR shifts by imposing additional restrictions on the risk preferences of a risk-averse decision maker.
- ISSN
- 1225-0279
- Language
- English
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