Browsing Programs, Centers, and Institutes by Author "Neilson, William S."

Now showing items 1-3 of 3

    • Alternative Approaches to Comparative nth-Degree Risk Aversion 
      Liu, Liqun; Neilson, William S. (Private Enterprise Research Center, Texas A&M University; Texas A&M University. Library, 2018-07-30)
      Economists have used the risk premium and the probability premium that are revealed through individual choices to compare how risk averse two individuals are. These behavioral, or choice-based, measures of risk aversion ...
    • 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 ...
    • The Probability Premium Approach to Comparative Risk Aversion 
      Liu, Liqun; Neilson, William S. (Private Enterprise Research Center, Texas A&M University; Texas A&M University. Library, 2015-04-23)
      In the framework of expected utility, nth-degree risk aversion/loving is unequivocally characterized by the sign of the nth-order derivative of the utility function, but there exist different notions of one decision maker ...