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Left-side Relatively Strong Increases in Risk and Their Comparative Statics

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Authors
Kim, Soojong; Kim, Iltae; Ryu, Suyeol
Issue Date
2005
Publisher
Seoul Journal of Economics
Citation
Seoul Journal of Economics 18 (No. 1 2005): 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
URI
http://hdl.handle.net/10371/1331
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College of Social Sciences (사회과학대학)Institute of Economics Research (경제연구소)Seoul Journal of EconomicsSeoul Journal of Economics vol.18(1) (Spring 2005)
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