Proper Risk Behavior
Louis Eeckhoudt and
Working Papers from Paris X - Nanterre, U.F.R. de Sc. Ec. Gest. Maths Infor.
How does risk aversion affect choices when expenses improve probabilities? Attempts to answer this question in the literature found an endogenous switching probability. In this paper we introduce a new concept of comparative attitude to risl, namely proper risk behavior and determine 1/2 as the threshold probability over which a more proper risk behavior agent becomes a gambler.
Keywords: RISK; BEHAVIOUR; UNCERTAINTY (search for similar items in EconPapers)
JEL-codes: D81 D10 (search for similar items in EconPapers)
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Working Paper: Proper risk behavior (1999)
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Persistent link: https://EconPapers.repec.org/RePEc:fth:pnegmi:99-27
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