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Truncated Increases in Risk and Risk Aversion with Prudence

김일태|류수열
한국경제통상학회 (The Korean Economic and Business Association)|2008.06|경제연구 (Journal of Economics Studies)|제26권 제2호|pp. 223-233

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참고문헌

키워드

truncated increase in risk. prudenceRothschild-Stiglitz유형 위험의 증가Kroll. LeshnoLevy and Spector (K-L-L-S) 유형 위험의 증가절단된 위험의 증가분별
주제분류경제학

초록

This paper introduces the new type of a 'truncated increase in risk' (TIR) which is an increase in risk in the Kroll, Leshno, Levy and Spector (1995; called K-L-L-S) sense, based on a concept of an increase in risk with truncated distributions that reveals real economic phenomena such as guaranteed minimum or imposed maximum prices. We also show that the comparative static analysis for the TIR is applied to all risk-averse decision-makers with prudence.

Abstract

This paper introduces the new type of a 'truncated increase in risk' (TIR) which is an increase in risk in the Kroll, Leshno, Levy and Spector (1995; called K-L-L-S) sense, based on a concept of an increase in risk with truncated distributions that reveals real economic phenomena such as guaranteed minimum or imposed maximum prices. We also show that the comparative static analysis for the TIR is applied to all risk-averse decision-makers with prudence.

참고문헌 (35)

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