Risk Apportionment and Stochastic Dominance

Eeckhoudt, Louis; Schlesinger, Harris; Tsetlin, Ilia

doi:10.2139/ssrn.1021947

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Risk Apportionment and Stochastic Dominance

INSEAD Business School Research Paper No. 2007/45/DS

24 Pages Posted: 16 Oct 2007

Louis Eeckhoudt

Facultes Universitaires Catholiques de Mons (FUCAM)

Harris Schlesinger

University of Alabama; CESifo (Center for Economic Studies and Ifo Institute)

Ilia Tsetlin

INSEAD

Date Written: July 5, 2007

Abstract

This paper characterizes higher order risk effects, such as prudence and temperance, via preferences that partially order a set of simple 50-50 lotteries.

Keywords: Downside Risk, Precautionary Savings, Prudence, Risk Apportionment

Suggested Citation: Suggested Citation

Eeckhoudt, Louis and Schlesinger, Harris and Tsetlin, Ilia, Risk Apportionment and Stochastic Dominance (July 5, 2007). INSEAD Business School Research Paper No. 2007/45/DS. Available at SSRN: https://ssrn.com/abstract=1021947 or http://dx.doi.org/10.2139/ssrn.1021947

Louis Eeckhoudt (Contact Author)

Facultes Universitaires Catholiques de Mons (FUCAM) ( email )

Chaussee de Binche, 151
Mons 7000
Belgium

Harris Schlesinger

University of Alabama ( email )

P.O. Box 870244
200 Alston Hall, Box 870224
Tuscaloosa, AL 35487
United States
205-348-7858 (Phone)
205-348-0590 (Fax)

CESifo (Center for Economic Studies and Ifo Institute) ( email )

Poschinger Str. 5
Munich, DE-81679
Germany

Ilia Tsetlin

INSEAD ( email )

Boulevard de Constance
77305 Fontainebleau Cedex
France

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Risk Apportionment and Stochastic Dominance

Louis Eeckhoudt

Harris Schlesinger

Ilia Tsetlin

Abstract

Louis Eeckhoudt (Contact Author)

Facultes Universitaires Catholiques de Mons (FUCAM) ( email )

Harris Schlesinger

University of Alabama ( email )

CESifo (Center for Economic Studies and Ifo Institute) ( email )

Ilia Tsetlin

INSEAD ( email )

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Risk Apportionment and Stochastic Dominance

Louis Eeckhoudt

Harris Schlesinger

Ilia Tsetlin

Abstract

Louis Eeckhoudt (Contact Author)

Facultes Universitaires Catholiques de Mons (FUCAM) ( email )

Harris Schlesinger

University of Alabama ( email )

CESifo (Center for Economic Studies and Ifo Institute) ( email )

Ilia Tsetlin

INSEAD ( email )

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