منابع مشابه
Why does Implied Risk Aversion smile?
A few recent papers have derived estimates of the representative agent's risk aversion by comparing the statistical density of asset returns and the state-price density. The implied risk aversion estimates obtained in these studies are puzzling, exhibiting (i) pronounced U-shaped patterns (a smile ) and (ii) negative values. This paper analyzes three potential explanations for these phenomena: ...
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A recent experimental literature shows that truth-telling is not always motivated by pecuniary motives, and several alternative motivations have been proposed. However, their relative importance in any given context is still not totally clear. This paper investigates the relevance of pure lie aversion, that is, a dislike for lies independent of their consequences. We propose a very simple desig...
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This note shows that for two inequality averse social welfare functions, if one is more inequality averse than the other, the household preference induced by optimally allocating aggregate bundles according to this social welfare function is more risk averse than the other. We present examples showing that this comparative static can be reversed if inequality aversion is dropped. We show that t...
متن کاملBehind the Veil of Ignorance: Risk Aversion or Inequality Aversion?
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ژورنال
عنوان ژورنال: Journal of Graduate Medical Education
سال: 2017
ISSN: 1949-8349,1949-8357
DOI: 10.4300/jgme-d-16-00850.1