Risk aversion in experiments: An introduction

James Cox and Glenn Harrison

A chapter in Risk Aversion in Experiments, 2008, pp 1-7 from Emerald Group Publishing Limited

Abstract: Attitudes to risk play a central role in economics. Policy makers should know them in order to judge the certainty equivalent of the effects of policy on individuals. What might look like a policy improvement when judged by the average impact could easily entail a welfare loss for risk averse individuals if the variance of expected impacts is wide compared to the alternatives.

Date: 2008
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Persistent link: https://EconPapers.repec.org/RePEc:eme:rexezz:s0193-2306(08)00001-x

DOI: 10.1016/S0193-2306(08)00001-X

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