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Adam Smith 1 asymmetric sensitivity 1 decision 1 lotteries 1 prudence 1 rank-dependent utility 1 risk 1 stochastic dominance 1
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Free 1
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Book / Working Paper 1
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Bréban, Laurie 1 Lapidus, André 1
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HAL 1
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Adam Smith on lotteries: an interpretation and formal restatement
Bréban, Laurie; Lapidus, André - HAL - 2013
dominance. However, it is well-known that a contradiction occurs between such an attitude and the principle of an asymmetric … sensitivity to favorable and unfavorable events, expressed by a concave function, introduced in the Theory of Moral Sentiments …
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