Watt, Richard; Vazquez, Francisco J. - Department of Economics and Finance, College of … - 2010
Traditionally, downside risk aversion is the study of the placement of a pure risk (a secondary risk) on either the … upside rather than the downside of the primary lottery, he is said to display downside risk aversion. The literature on the … intensity of downside risk aversion has been clear on the point that greater prudence is not equivalent to greater downside risk …