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dc.contributor.authorEeckhoudt, Louisen_US
dc.contributor.authorSchlesinger, Harrisen_US
dc.date.accessioned2009-01-28T15:53:09Z-
dc.date.available2009-01-28T15:53:09Z-
dc.date.issued2005en_US
dc.identifier.urihttp://hdl.handle.net/10419/18826-
dc.description.abstractThis paper examines preferences towards particular classes of lottery pairs. We show how concepts such as prudence and temperance can be fully characterized by a preference relation over these lotteries. If preferences are defined in an expected-utility framework with differentiable utility, the direction of preference for a particular class of lottery pairs is equivalent to signing the nth derivative of the utility function. What makes our characterization appealing is its simplicity, which seems particularly amenable to experimentation.en_US
dc.language.isoengen_US
dc.publisheren_US
dc.relation.ispartofseriesCESifo working papers 1462en_US
dc.subject.jelD81en_US
dc.subject.ddc330en_US
dc.subject.keywordpropernessen_US
dc.subject.keywordprudenceen_US
dc.subject.keywordrisk apportionmenten_US
dc.subject.keywordrisk aversionen_US
dc.subject.keywordstochastic dominanceen_US
dc.subject.keywordtemperanceen_US
dc.subject.keywordutility premiumen_US
dc.subject.stwRisikoaversionen_US
dc.subject.stwRisikopräferenzen_US
dc.subject.stwErwartungsnutzenen_US
dc.subject.stwTheorieen_US
dc.titlePutting risk in its proper placeen_US
dc.typeWorking Paperen_US
dc.identifier.ppn485196271en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungen-
Appears in Collections:CESifo Working Papers, CESifo Group Munich

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