Results 201 to 210 of about 612,030 (261)
Some of the next articles are maybe not open access.
On the Theory of Risk Aversion
International Economic Review, 1970the existing theory by establishing the economic significance of the partial relative risk aversion function. Let u(t) be a utility function for wealth. The functions A(t) = -u"(t)/u'(t) and R(t) -tu"(t)/u'(t) are the Arrow-Pratt absolute and relative risk aversion functions.
Menezes, C F, Hanson, D L
openaire +1 more source
Risk Analysis, 2002
The last few decades have seen increasingly widespread use of risk assessment and management techniques as aids in making complex decisions. However, despite the progress that has been made in risk science, there still remain numerous examples of risk‐based decisions and conclusions that have caused great controversy.
Adam J, Hatfield, Keith W, Hipel
openaire +2 more sources
The last few decades have seen increasingly widespread use of risk assessment and management techniques as aids in making complex decisions. However, despite the progress that has been made in risk science, there still remain numerous examples of risk‐based decisions and conclusions that have caused great controversy.
Adam J, Hatfield, Keith W, Hipel
openaire +2 more sources
SSRN Electronic Journal, 2015
In this paper, we consider the pricing effects of noisy risk disclosure. We assume that investors are uncertain about the variance of a firm's cash flows and that the firm releases an imperfect signal regarding this variance. We show that the variance uncertainty is priced and that risk disclosure decreases the cost of capital in both single and multi ...
Mirko S. Heinle, Kevin C. Smith
openaire +1 more source
In this paper, we consider the pricing effects of noisy risk disclosure. We assume that investors are uncertain about the variance of a firm's cash flows and that the firm releases an imperfect signal regarding this variance. We show that the variance uncertainty is priced and that risk disclosure decreases the cost of capital in both single and multi ...
Mirko S. Heinle, Kevin C. Smith
openaire +1 more source
A Theory for Measures of Tail Risk
Mathematics of Operations Research, 2016The notion of “tail risk” has been a crucial consideration in modern risk management and financial regulation, as very well documented in the recent regulatory documents. To achieve a comprehensive understanding of the tail risk, we carry out an axiomatic study for risk measures that quantify the tail risk, that is, the behaviour of a risk beyond a ...
Fangda Liu, Ruodu Wang
openaire +3 more sources
On the theory of risk aversion and the theory of risk
Journal of Economic Theory, 1979Abstract Relationships between the theory of risk aversion and the theory of risk have been noted by Diamond and Stiglitz [12], Kihlstrom and Mirman [24], and Leland [29]. The main result of this paper is a characterization of the Pratt and Kihlstrom-Mirman [24, 46] relation “more risk averse” between utility functions in terms of a stochastic ...
openaire +1 more source
Philosophy of Science, 2019
I propose a general alethic theory of epistemic risk according to which the riskiness of an agent’s credence function encodes her relative sensitivity to different types of graded error. After motivating and mathematically developing this approach, I show that the epistemic risk function is a scaled reflection of expected inaccuracy (a quantity also ...
openaire +3 more sources
I propose a general alethic theory of epistemic risk according to which the riskiness of an agent’s credence function encodes her relative sensitivity to different types of graded error. After motivating and mathematically developing this approach, I show that the epistemic risk function is a scaled reflection of expected inaccuracy (a quantity also ...
openaire +3 more sources
Theory of Generalized Risk Attitudes
Decision Analysis, 2015This paper develops a theory of risk attitudes that can be applied in a broad array of settings, including those in which the decision maker (DM) abides by a preference model other than the expected utility model and in which decisions are being made over multiattribute alternatives. The theory is based on (i) a set of plausible axioms in which the DM’
openaire +3 more sources