This paper offers an interpretive comparison of the Arrow/Pratt and Ross characterization of comparative risk aversion for expected utility maximizers. The tools used in this comparison are then applied to obtain a strengthening of the Ross characterization. This strengthened result is then extended to the case of general smooth non-expected utility preferences over probability distributions.
MLA
Machina, Mark J., and William S. Neilson. “The Ross Characterization of Risk Aversion: Strengthening and Extension.” Econometrica, vol. 55, .no 5, Econometric Society, 1987, pp. 1139-1149, https://www.jstor.org/stable/1911264
Chicago
Machina, Mark J., and William S. Neilson. “The Ross Characterization of Risk Aversion: Strengthening and Extension.” Econometrica, 55, .no 5, (Econometric Society: 1987), 1139-1149. https://www.jstor.org/stable/1911264
APA
Machina, M. J., & Neilson, W. S. (1987). The Ross Characterization of Risk Aversion: Strengthening and Extension. Econometrica, 55(5), 1139-1149. https://www.jstor.org/stable/1911264
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