Willingness to Pay for Risk Reduction and Risk Aversion without the Expected Utility Assumption

被引：0

作者：

Eric Langlais

机构：

[1] Université de Nancy,

来源：

Theory and Decision | 2005年 / 59卷

关键词：

Risk premium; willingness to pay; first and second stochastic dominance shifts in risk;

D O I：

暂无

中图分类号：

学科分类号：

摘要：

By means of minimal assumptions on the individual preferences, I show that the Willingness To Pay (WTP) for both a FSD and SSD reduction of risk is the sum of a mean effect, a pure risk effect and a wealth effect. As a result, the WTP of a risk-averse decision maker may be lower than the WTP of a risk-neutral one, for a large class of individual preferences’ representation and a large class of risks.

引用

页码：43 / 50

页数：7

共 50 条

[1] Willingness to pay for risk reduction and risk aversion without the expected utility assumption
Langlais, E
[J]. THEORY AND DECISION, 2005, 59 (01) : 43 - 50
[2] Willingness to pay, the risk premium and risk aversion
Eeckhoudt, L
Godfroid, P
Gollier, C
[J]. ECONOMICS LETTERS, 1997, 55 (03) : 355 - 360
[3] Expected utility operators and possibilistic risk aversion
Irina Georgescu
[J]. Soft Computing, 2012, 16 : 1671 - 1680
[4] Expected utility operators and possibilistic risk aversion
Georgescu, Irina
[J]. SOFT COMPUTING, 2012, 16 (10) : 1671 - 1680
[5] Precautionary behavior and willingness to pay for a mortality risk reduction: Searching for the expected relationship
Mikael Svensson
[J]. Journal of Risk and Uncertainty, 2009, 39 : 65 - 85
[6] Comparative Risk Aversion for -Expected Utility Maximizers
Jia, Guangyan
Xia, Jianming
[J]. NONLINEAR MATHEMATICS FOR UNCERTAINTY AND ITS APPLICATIONS, 2011, 100 : 31 - +
[7] Utilitarianism, risk aversion, and expected utility - Reply
Cohen, BJ
[J]. MEDICAL DECISION MAKING, 1996, 16 (01) : 14 - 14
[8] Precautionary behavior and willingness to pay for a mortality risk reduction: Searching for the expected relationship
Svensson, Mikael
[J]. JOURNAL OF RISK AND UNCERTAINTY, 2009, 39 (01) : 65 - 85
[9] Willingness to pay for stochastic improvements of future risk under different risk aversion
Wang, Hongxia
Wang, Jianli
Yin, Yick Ho
[J]. ECONOMICS LETTERS, 2018, 168 : 52 - 55
[10] Risk aversion and expected utility of consumption over time
Johansson-Stenman, Olof
[J]. GAMES AND ECONOMIC BEHAVIOR, 2010, 68 (01) : 208 - 219

← 1 2 3 4 5 →