Download This PaperA New Explanation of Simultaneous Risk Aversion and Risk Avidity
17 Pages Posted: 11 Oct 2009 Last revised: 23 Aug 2014
Abstract
This paper specifies a model of hierarchical planning under risk with imprecise probabilities and utilities. The model is then used to explain how agents might act in ways that are both risk averse and risk avid (i.e. risk seeking).
Keywords: hierarchical planning, imprecise probabilities, risk aversion, risk seeking
JEL Classification: D81
Suggested Citation: Suggested Citation
Sharpe, Keiran, A New Explanation of Simultaneous Risk Aversion and Risk Avidity. Australian Conference of Economists (ACE09) Paper, Available at SSRN: https://ssrn.com/abstract=1484743 or http://dx.doi.org/10.2139/ssrn.1484743
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