Riskiness in binary gambles: A geometric analysis

José M. Usategui

Economics Letters, 2017, vol. 159, issue C, 149-152

Abstract: The orderings of binary gambles under the index of riskiness analyzed by Aumann and Serrano and under the measure of riskiness proposed by Foster and Hart are studied and compared. To proceed the properties of the curves that include gambles with the same level of riskiness are analyzed for each of those measures and such curves are represented geometrically.

Keywords: Riskiness; Binary gambles; Ordering of gambles (search for similar items in EconPapers)
JEL-codes: D81 G11 (search for similar items in EconPapers)
Date: 2017
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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecolet:v:159:y:2017:i:c:p:149-152

DOI: 10.1016/j.econlet.2017.07.025

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