Measuring the Relative Risk Aversion Coefficients of Apple Farmers
نویسندگان
چکیده
منابع مشابه
“the effect of risk aversion on the demand for life insurance: the case of iranian life insurance market”
abstract: about 60% of total premium of insurance industry is pertained?to life policies in the world; while the life insurance total premium in iran is less than 6% of total premium in insurance industry in 2008 (sigma, no 3/2009). among the reasons that discourage the life insurance industry is the problem of adverse selection. adverse selection theory describes a situation where the inf...
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Risk management and the thorough understanding of the relations between financial markets and the standard theory of macroeconomics have always been among the topics most addressed by researchers, both financial mathematicians and economists. This work aims at explaining investors’ behavior from a macroeconomic aspect (modeled by the investors’ pricing kernel and their relative risk aversion) u...
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Measuring risk aversion is sensitive to assumptions about the wealth in subjects’ utility functions. Data from the same subjects in lowand high-stake lottery decisions allow estimating the wealth in a pre-specified oneparameter utility function simultaneously with risk aversion. This paper first shows how wealth estimates can be identified assuming constant relative risk aversion (CRRA). Using ...
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As a follow-up to the work of [4] and [5], this paper continues to explore the relationship between wealth share dynamics and risk preferences in the context of an agent-based multi-asset artificial stock market. We simulate a multi-asset agent-based artificial stock market composed of heterogeneous agents with different degrees of relative risk aversion. As before, we find that the difference ...
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ژورنال
عنوان ژورنال: Journal of the Korea Academia-Industrial cooperation Society
سال: 2015
ISSN: 1975-4701
DOI: 10.5762/kais.2015.16.2.1036