Browsing by Subject "prudence"

Now showing items 1-2 of 2

    • Comparative Risk Apportionment 
      Liu, Liqun; Paan Jindapon; Neilson, William S. (Private Enterprise Research Center, Texas A&M University; Texas A&M University. Library, 2021-01-04)
      A decision maker who would rather apportion an independent risk in a state with a good lottery than in a state with a bad lottery is said to have a preference for risk apportionment (Eeckhoudt & Schlesinger, 2006). In this ...
    • Optimality of Winner-Take-All Contests: The Role of Attitudes Toward Risk 
      Liu, Liqun; Treich, Nicolas (Private Enterprise Research Center, Texas A&M University; Texas A&M University. Library, 2019-12-16)
      It has been established in the literature that, under the assumption of risk-neutral contestants, it is usually optimal for an effort maximizing contest organizer with a fixed prize budget to award everything to a single ...