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Measuring Risk Aversion Donald J. Meyer

Measuring Risk Aversion By Donald J. Meyer

Measuring Risk Aversion by Donald J. Meyer


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Summary

Provides a discussion of the adjustment of risk references and how to go about making such adjustments to a common scale. By adjusting all information to this common scale, results can be easily summarized and compared, and the body of information concerning risk aversion can be examined as a whole rather than as individual parts.

Measuring Risk Aversion Summary

Measuring Risk Aversion by Donald J. Meyer

The measurement of the propensity to accept or reject risk is an important and well researched topic. Measuring Risk Aversion summarizes, discusses, and interprets the published research on this topic for decision makers who maximize expected utility. Estimates of the magnitude of relative risk aversion range widely from near zero to values approaching one hundred, and whether the slope of the risk aversion measure is positive, negative or zero is an unsettled question for many measures, including relative risk aversion. Measuring Risk Aversion show that a substantial part of this variation is due to the differences in the outcome variables used in the analysis. Measuring Risk Aversion provides a detailed discussion of the adjustment of risk references and how to go about making such adjustments to a common scale. By adjusting all information to this common scale, results across studies can be easily summarized and compared, and the body of information concerning risk aversion can be examined as a whole rather than as individual parts.

Table of Contents

1 Introduction 2 The Framework 3 Relative Risk Aversion for Wealth 4 Relative Risk Aversion for Consumption 5 Relative Risk Aversion for Profit 6 Relative Risk Aversion for Other Outcome Variables 7 Summary and Conclusions

Additional information

NLS9781933019451
9781933019451
193301945X
Measuring Risk Aversion by Donald J. Meyer
New
Paperback
now publishers Inc
2006-09-15
112
N/A
Book picture is for illustrative purposes only, actual binding, cover or edition may vary.
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