文章基本信息

标题：Risk Aversion Behavior. Relationships Between Risk Aversion, Prudence And Cautiousness
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作者：Pirtea Marilen ; West University de Vest of Timisoara Boţoc Claudiu ; West University de Vest of Timisoara 等
期刊名称：Annales Universitatis Apulensis : Series Oeconomica
印刷版ISSN：1454-9409
出版年度：2008
卷号：1
期号：10
出版社：“1 Decembrie 1918” University of Alba Iulia
摘要：This paper defines decreasing absolute risk aversion in purely behavioral terms without any assumption of differentiability and shows that a strictly increasing and risk averse utility function with decreasing absolute risk aversion is necessarily differentiable with an absolutely continuous derivative. A risk averse utility function has decreasing absolute risk aversion if and only if it has a decreasing absolute risk aversion density, and if and only if the cumulative absolute risk aversion function is increasing and concave. This leads to a characterization of all such utility functions. Analogues of these results also hold for increasing absolute and for increasing and decreasing relative risk aversion.
关键词：risk aversion; prudence; cautiousness