Supermodularity and the comparative statics of risk

John Quiggin and Robert G. Chambers

No 151164, Risk and Sustainable Management Group Working Papers from University of Queensland, School of Economics

Abstract: In this article, it is shown that a wide range of comparative statics results from expected utility theory can be extended to generalized expected utility models using the tools of supermodularity theory. In particular, a range of concepts of decreasing absolute risk aversion may be formulated in terms of the supermodularity properties of certainty equivalent representations of preferences

Keywords: Environmental Economics and Policy; Risk and Uncertainty (search for similar items in EconPapers)
Pages: 19
Date: 2004-06-20
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Related works:
Journal Article: Supermodularity and the Comparative Statics of Risk (2007)
Working Paper: Supermodularity and the comparative statics of risk (2004)
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Persistent link: https://EconPapers.repec.org/RePEc:ags:uqsers:151164

DOI: 10.22004/ag.econ.151164

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