coronavirus models. The micro model consists of two functions, a risk averse utility function depending on wellness and a wellness …A micro decision-making utility model under uncertainty is presented as a complementary foundation for macro …/his expected utility, given the probabilities of the respective outputs. The focus is on how changes in a person's psychological …

under the expected utility theory (EUT) are somewhat subject to context. Other findings imply that the risk premium (RP), as …The present paper introduces a theoretical framework through which the degree of risk aversion with respect uncertain … prices can be measured through the context of the indirect utility function (IUF) using a lab experiment. First, the paper …

generalization of a preliminary result reported in Stark (2024). In a broad utility framework, we study the risk aversion of an … cases, we find that altruism lowers risk aversion. The specific case in which the utility functions of the benefactor and of …The purpose of this paper is to provide a general proposition of the relationship between altruism and risk taking. As …

In a recent article entitled 'Putting Risk in its Proper Place,' Eeckhoudt and Schlesinger (2006) established a theorem … linking the sign of the n-th derivative of an agent's utility function to her preferences among pairs of simple lotteries. We …. When the n-th derivative of the utility function is positive (negative) and n is odd (even), the agent prefers a lottery …

generalization of a preliminary result reported in Stark (2024). In a broad utility framework, we study the risk aversion of an … cases, we find that altruism lowers risk aversion. The specific case in which the utility functions of the benefactor and of …The purpose of this paper is to provide a general proposition of the relationship between altruism and risk taking. As …

Willingness to take risk depends on whether the risk affects others as well as oneself and on how the risk affects oneś … apparent whether the unfair safe social outcome benefits them or the other. Subjects are also more risk averse when facing … tendency to avoid social lotteries that impose a risk on the other. An attempt to reconcile those findings with standard models …

We show that if an agent is uncertain about the precise form of his utility function, his actual relative risk aversion … may depend on wealth even if he knows his utility function lies in the class of constant relative risk aversion (CRRA … their risk aversion parameter invest less in risky assets than wealthy investors with identical risk aversion uncertainty. …

data with a broad class of models of choice under risk and under uncertainty. Our method allows for risk loving and elation … model of choice. We evaluate the performance of different models (including expected utility, disappointment aversion, rank … dependent utility, mean-variance utility, and stochastically monotone utility) in the data collected by Choi et al. (2007), in …

This paper studies the relation between concavity, stochastic or state dependent utility functions, and risk aversion …. Using the common definition of risk aversion, but modified for state dependent preferences, we show that concavity does not … imply risk aversion. Instead, it implies a weaker version of risk aversion, defined herein, and called risk aversion for …

mean preserving increases in risk is equivalent to the concavity of the local utility functions, thereby generalizing … Machina's result. To analyze comparative risk attitudes within the multivariate extension of rank dependent expected utility …, we extend Quiggin's monotone mean and utility preserving increases in risk and show that the useful characterization …