Intensity of preferences for bivariate ...
Type de document :
Compte-rendu et recension critique d'ouvrage
Titre :
Intensity of preferences for bivariate risk apportionment
Auteur(s) :
Crainich, David [Auteur]
Lille économie management - UMR 9221 [LEM]
Eeckhoudt, Louis [Auteur]
Courtois, Olivier Le [Auteur]
Lille économie management - UMR 9221 [LEM]
Eeckhoudt, Louis [Auteur]
Courtois, Olivier Le [Auteur]
Titre de la revue :
Journal of Mathematical Economics
Pagination :
153-160
Éditeur :
Elsevier
Date de publication :
2020-05
ISSN :
0304-4068
Mot(s)-clé(s) en anglais :
Bivariate utility function
Increase in bivariate risks
Risk apportionment
Comparative risk aversion
Ross risk aversion
Increase in bivariate risks
Risk apportionment
Comparative risk aversion
Ross risk aversion
Discipline(s) HAL :
Sciences de l'Homme et Société/Economies et finances
Résumé en anglais : [en]
Bivariate risk apportionment is the preference for dispersing risks associated with two aspects of individuals’ well-being into different states of the world. In this paper, we propose an intensity measure of this preference ...
Lire la suite >Bivariate risk apportionment is the preference for dispersing risks associated with two aspects of individuals’ well-being into different states of the world. In this paper, we propose an intensity measure of this preference by extending to the bivariate case the concept of marginal rate of substitution between risks of different orders introduced in the univariate case by Liu and Meyer (2013). We show that the intensity measure of the preference for bivariate risk apportionment is characterized by bivariate risk attitudes in the sense of Ross. The usefulness of our measures to understand economic choices is illustrated by the analysis of two specific decisions: savings under environmental risk and medical treatment in the presence of diagnostic risks.Lire moins >
Lire la suite >Bivariate risk apportionment is the preference for dispersing risks associated with two aspects of individuals’ well-being into different states of the world. In this paper, we propose an intensity measure of this preference by extending to the bivariate case the concept of marginal rate of substitution between risks of different orders introduced in the univariate case by Liu and Meyer (2013). We show that the intensity measure of the preference for bivariate risk apportionment is characterized by bivariate risk attitudes in the sense of Ross. The usefulness of our measures to understand economic choices is illustrated by the analysis of two specific decisions: savings under environmental risk and medical treatment in the presence of diagnostic risks.Lire moins >
Langue :
Anglais
Vulgarisation :
Non
Collections :
Source :
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