On the definition of risk aversion
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Aldo Montesano
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Article
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1990
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Springer US
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English
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Two definitions of risk aversion have recently been proposed for nonexpected utility theories of choice under uncertainty: the former refers the measure of risk aversion (Montesano 1985(Montesano , 1986(Montesano and 1988) ) directly to the risk premium (i.e. to the difference between the expected v