This paper analyses risk and risk aversion in the state-dependent utility model, which is useful for modelling health or life insurance purchase. We use Karni's (1983) definition of risk aversion, and extend the class of risks to which it can be applied.
Risk and risk aversion when states of nature matter
โ Scribed by Jan Werner
- Book ID
- 105866870
- Publisher
- Springer
- Year
- 2008
- Tongue
- English
- Weight
- 231 KB
- Volume
- 41
- Category
- Article
- ISSN
- 0938-2259
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