A Note on the Generalised Measures of Risk Aversion

Tapan Biswas

Review of Economic Analysis, 2012, vol. 4, issue 1, 151-156

Abstract: (Originally published in Journal of Economic Theory (1983), 29, 347-352) - This paper is concerned with generalised scalar measures of risk aversion. A measure R which may meaningfully be applied to both unidimensional risks (risk in income or wealth) and multidimensional risks has been constructed. In case of iden- tical preferences, we have also constructed an alternative measure of risk aversion R* which is shown to be related to the Khilstrom-Mirman measure. This relationship explains the nature of the Khilstrom-Mirman measure. Journal of Economic Literature Classification Numbers: 021, 022, 026.

Date: 2012
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Journal Article: A note on the generalised measures of risk aversion (1983)
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Persistent link: https://EconPapers.repec.org/RePEc:ren:journl:v:4:y:2012:i:1:p:151-156

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