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Risk aversion in the small and Jensen inequalities

โœ Scribed by Luigi Montrucchio; Luisa Tibiletti

Publisher
Springer Milan
Year
1993
Tongue
English
Weight
704 KB
Volume
16
Category
Article
ISSN
1593-8883

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Economic decision making under uncertainty is universally characterized by aversion to risk. One of the most basic concepts in economic theory, risk aversion is usually explained by the concavity of the utility function, which, in turn, is based on a person's satiability for wealth. I use genetic al