- Higher-order relative risk aversion,
- Higher-order multiplicative risk apportionment
This paper examines changes in a multiplicative risk and how these changes affect preferences in an expected-utility setting. We define higher-order multiplicative risk apportionment, via a particular classes of lottery preference and show it is equivalent to the magnitude of higher-order relative risk aversion.
Copyright © 2010 Elsevier B.V.
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