文章基本信息

标题：Comparative Risk Aversion under Background Risk Revisited
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作者：Masamitsu Ohnishi ; Yusuke Osaki
期刊名称：Economics Research International
印刷版ISSN：2090-2123
电子版ISSN：2090-2131
出版年度：2010
卷号：2010
DOI：10.1155/2010/180478
出版社：Hindawi Publishing Corporation
摘要：This paper determines a new sufficient condition of the (von Neumann-Morgenstern) utility function that preserves comparative risk aversion under background risk. It is the single crossing condition of risk aversion. Because this condition requires monotonicity in the local sense, it may satisfy the U-shaped risk aversion observed in the recent empirical literature.