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Handbook of the Economics of Risk and Uncertainty
book

Handbook of the Economics of Risk and Uncertainty

by Mark Machina, W. Kip Viscusi
November 2013
Beginner content levelBeginner
896 pages
35h 10m
English
North Holland
Content preview from Handbook of the Economics of Risk and Uncertainty
Mark J. Machina and Marciano Siniscalchi
772
which takes on strictly negative values, with the function x θ log(x), which is
strictly increasing when restricted to the negative reals. On the other hand, if one restricts
attention to roulette lotteries, the individual’s risk preferences are represented by U(·). In
other words, one can interpret the multiplier-preferences model as postulating that the
individual is more risk-averse toward subjective risk than toward objective risk. The idea that
risk attitudes may be source-dependent was discussed in Section 13.5.5.
13.5.8 Confidence-Function Preferences
Chateauneuf and Faro (2009) propose ...
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Publisher Resources

ISBN: 9780444536853