The diminishing velocity of marginal utility of wealth

被引：0
|
作者：
He, Bin [1 ]
机构：
[1] Wenzhou Univ, Sch Business, Zhejiang 325035, Peoples R China
来源：
PROCEEDINGS OF THE 2008 INTERNATIONAL CONFERENCE ON E-RISK MANAGEMENT (ICERM 2008) | 2008年
关键词：
utility theory; absolute diminishing velocity; relative diminishing velocity; risk aversion;
D O I：
暂无
中图分类号：
C93 [管理学];
学科分类号：
12 ; 1201 ; 1202 ; 120202 ;
摘要：
As is known, marginal utility of wealth is diminishing. In this paper, we focus on the diminishing velocity of marginal utility. We firstly separate the diminishing velocity into two types: the absolute diminishing velocity and the relative diminishing velocity. Then we illustrate that these two kinds of diminishing velocities should also be diminishing. And as long as the relative diminishing velocity of marginal utility is diminishing, the absurd degree of risk aversion indicated by Rabin and Thaler will be reduced.
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页码：241 / 247
页数：7
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