Rank-ordering of risk preferences with conventional and discrete measures

Quarterly Review of Economics and Finance

Volumn 50, Issue 3, 2010, Pages 291-297

  Eisenhauer, Joseph G ^a  

^a WRIGHT STATE UNIVERSITY   (United States)

Author keywords

Discrete mathematics; Expected utility; Lotteries; Risk aversion

Indexed keywords

EID: 77953914952     PISSN: 10629769     EISSN: None     Source Type: Journal    
DOI: 10.1016/j.qref.2010.02.004     Document Type: Article

References (23)

1. Arrow K.J. Essays in the theory of risk-bearing 1971, Markham, Chicago.
2. Brunello G. Absolute risk aversion and the returns to education. Economics of Education Review 2002, 21(6):635-640.
3. Caballe J., Esteban J. Stochastic dominance and absolute risk aversion. Social Choice and Welfare 2007, 28(1):89-110.
4. Chander, P. (2000). A simple measure of risk aversion in the large and an application. CORE Discussion Paper 2000/41.
5. Colombier N., Boemont L.D., Loheac Y., Masclet D. Risk aversion: An experiment with self-employed workers and salaried workers. Applied Economics Letters 2008, 15(10):791-795.
6. Cramer J.S., Hartog J., Jonker N., Van Praag C.M. Low risk aversion encourages the choice for entrepreneurship: An empirical test of a truism. Journal of Economic Behavior and Organization 2002, 48(1):29-36.
7. Dohmen, T., Falk, A., Huffman, D., Sunde, U., Schupp, J., & Wagner, G. G. (2005, September). Individual risk attitudes: New evidence from a large, representative, experimentally-validated survey. IZA Discussion Paper 1730.
8. Donkers B., Melenberg B., van Soest A. Estimating risk attitudes using lotteries: A large sample approach. Journal of Risk and Uncertainty 2001, 22(2):165-195.
9. Eisenhauer J.G. Risk aversion and prudence in the large. Research in Economics 2006, 60(4):179-187.
10. Eisenhauer J.G. Attitudes toward large-scale risks: A discrete estimation using Dutch data. European Journal of Economics, Finance, and Administrative Sciences 2008, 10:138-150.
11. Eisenhauer J.G. Relative risk aversion as an arc elasticity. Risk Management and Insurance Review 2010, 13(1):161-172.
12. Eisenhauer J.G., Ventura L. Survey measures of risk aversion and prudence. Applied Economics 2003, 35(13):1477-1484.
13. Eisenhauer, J. G., & Ventura, L. (). Interval risk aversion. Applied Economics. doi:10.1080/00036840802600285.
14. Guiso, L., & Paiella, M. (2005, February). The role of risk aversion in predicting individual behavior. Banca D'Italia Discussion Paper 546.
15. Hartog, J., Ferrer-I-Carbonell, A., & Jonker, N. (2000). On a simple measure of individual risk aversion. Tinbergen Institute Discussion Paper TI 2000-074/3.
16. Hartog J., Ferrer-I-Carbonell A., Jonker N. Linking measured risk aversion to individual characteristics. Kyklos 2002, 55(1):3-26.
17. Kimball M.S. Precautionary saving in the small and in the large. Econometrica 1990, 58(1):53-73.
18. Kurata H., Izawa H., Okamura M. Non-expected utility maximizers behave as if expected utility maximizers: An experimental test. Journal of Socio-Economics 2009, 38(4):622-629.
19. Meyer D.J., Meyer J. Measuring risk aversion 2006, Now Publishers, Hanover, MA.
20. Pratt J.W. Risk aversion in the small and in the large. Econometrica 1964, 32(1-2):122-136.
21. Rothschild M., Stiglitz J.E. Increasing risk I: A definition. Journal of Economic Theory 1970, 2(3):225-243.
22. Szpiro, G. G. (1986). Risk aversion in the not-so-small: Beyond mean and variance. Working Paper 21-86, Rodney L. White Center for Financial Research, University of Pennsylvania.
23. Ukhov, A.D. (2005, November). Preferences toward risk and asset prices: Evidence from Russian lottery bonds, mimeo, Indiana University.