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SSRN Electronic Journal, 2008 Risk aversion is traditionally defined in the context of lotteries over monetary payoffs. This paper extends the notion of risk aversion to a more general setup where outcomes (consequences) may not be measurable in monetary terms and people may have fuzzy preferences over lotteries, i.e. they may choose in a probabilistic manner.
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Anomalies: Risk aversion [PDF]
Journal of Economic Perspectives, 2001 Economists ubiquitously employ a simple and elegant explanation for risk aversion: It derives from the concavity of the utility-of-wealth function within the expected-utility framework. We show that this explanation is not plausible in most applications, since anything more than economically negligible risk aversion over moderate stakes requires a ...
Matthew Rabin, Richard H. Thaler
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Risk Aversion and Investment Intentions of Filipino Investors: A Moderation Study
Diversitas Journal, 2023 A survey was conducted amongst a sample of Filipino retail investors residing in NCR. All at the ages of 21-60 with at least 1 year of investing experience in the Philippine stock market and cryptocurrency market.
John Mark S Distor +4 more
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Decisions on Dual-Channel Supply Chains under Market Fluctuations and Dual-Risk Aversion
Discrete Dynamics in Nature and Society, 2020 Considering market fluctuations and risk aversion, this paper analyzes the decisions of a dual-channel supply chain consisting of one manufacturer and one retailer and compares the differences in the centralized structure, manufacturer-dominated ...
Guangdong Liu +3 more
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Behavior analysis of travel route selection with consideration of risk aversion
Shenzhen Daxue xuebao. Ligong ban, 2022 In order to study the effect of travelers' attitudes on route selection behavior when risk aversion is considered in intelligent transportation system, this study provides a methodology about multi-attribute route selection for travelers with different ...
JIA Fuqiang +3 more
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Risk aversion under preference uncertainty [PDF]
, 2010 We show that if an agent is uncertain about the precise form of his utility function, his actual relative risk aversion may depend on wealth even if he knows his utility function lies in the class of constant relative risk aversion (CRRA) utility ...
Kräussl, Roman +2 more
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The Effect of Regret-Based Risky Route Choice on the Traffic Equilibrium for Emergency Evacuation
Journal of Advanced Transportation, 2020 Following the research on human decision-making under risk and uncertainty, the purpose of this paper is to analyze evacuees’ risky route decision behavior and its effect on traffic equilibrium.
Ze Wang, Haiqiang Yang, Linglin Ni
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Graphs versus numbers: How information format affects risk aversion in gambling [PDF]
Judgment and Decision Making, 2016 In lottery gambling, the common phenomenon of risk aversion shows up as preference of the option with the higher win probability, even if a riskier alternative offers a greater expected value.
Michael Dambacher +3 more
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Time Varying Risk Aversion: An Application to Energy Hedging [PDF]
, 2009 Risk aversion is a key element of utility maximizing hedge strategies; however, it has typically been assigned an arbitrary value in the literature. This paper instead applies a GARCH-in-Mean (GARCH-M) model to estimate a time-varying measure of risk ...
Cotter, John, Hanly, Jim
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Journal of Applied Economics, 2022 The risk attitude plays an important role in analyzing decision making under uncertainty. It is essential to confirm whether the risk aversion parameter in a certain situation, called “domain,” can be applied to other situations.
Yoichiro Fujii, Noriko Inakura
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