A Risk-neutral Characterization of Optimization and Pessimism and its Applications

Yusuke Osaki and John Quiggin

No 151180, Risk and Sustainable Management Group Working Papers from University of Queensland, School of Economics

Abstract: This note gives a simple, but useful characterization of optimism and pessimism represented by a convex and concave shift of probability weighting functions, and applies it to two comparative static analysis.

Keywords: Research Methods/ Statistical Methods; Risk and Uncertainty (search for similar items in EconPapers)
Pages: 14
Date: 2007
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Persistent link: https://EconPapers.repec.org/RePEc:ags:uqsers:151180

DOI: 10.22004/ag.econ.151180

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