Bernoulli-Prinzip und Risikoeinstellung

Michael Bitz
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Michael Bitz: FernUniversität Hagen

Schmalenbach Journal of Business Research, 1998, vol. 50, issue 10, 916-932

Abstract: Summary One important and generally accepted result of the long-lasting discussion in german literature is the compatibility of Expected Utility Theory (EUT) with different types of risk preference. Recently, however, there was presented the argument, that EUT is only compatible with risk neutrality. This paper shows the main inconsistencies of this argument, especially the incorrect interpretation of the formal structure of EUT.

Date: 1998
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DOI: 10.1007/BF03371540

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