Risk Aversion in the Small and in the Large

19764,744 citationsJournal Article

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Abstract

This paper concerns utility functions for money. A measure of risk aversion in the small, the risk premium or insurance premium for an arbitrary risk, and a natural concept of decreasing risk aversion are discussed and related to one another. Risks are also considered as a proportion of total assets.

Topics & Keywords

Economic theories and models Risk and Portfolio Optimization

Publication Details

Published in: Econometrica

Volume 44, Issue 2, pp. 420-420

DOI: 10.2307/1912743

Field-Weighted Citation Impact: 415.05

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Risk Aversion in the Small and in the Large

Authors

Abstract

Topics & Keywords

Publication Details