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dc.contributor.authorEeckhoudt, Louisen
dc.contributor.authorSchlesinger, Harrisen
dc.date.accessioned2009-01-28T15:53:09Z-
dc.date.available2009-01-28T15:53:09Z-
dc.date.issued2005-
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 isequivalent to signing the nth derivative of the utility function. What makes our characterization appealing is its simplicity, which seems particularly amenable to experimentation.en
dc.language.isoengen
dc.publisher|aCenter for Economic Studies and ifo Institute (CESifo) |cMunichen
dc.relation.ispartofseries|aCESifo Working Paper |x1462en
dc.subject.jelD81en
dc.subject.ddc330en
dc.subject.keywordpropernessen
dc.subject.keywordprudenceen
dc.subject.keywordrisk apportionmenten
dc.subject.keywordrisk aversionen
dc.subject.keywordstochastic dominanceen
dc.subject.keywordtemperanceen
dc.subject.keywordutility premiumen
dc.subject.stwRisikoaversionen
dc.subject.stwRisikopräferenzen
dc.subject.stwErwartungsnutzenen
dc.subject.stwTheorieen
dc.titlePutting risk in its proper place-
dc.typeWorking Paperen
dc.identifier.ppn485196271en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen

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