Supermodularity and the Comparative Statics of Risk |
| |
Authors: | John Quiggin Robert G Chambers |
| |
Institution: | (1) University of Queensland, Brisbane, QLD, 4072, Australia;(2) University of Maryland, College Park, MD, U.S.A. |
| |
Abstract: | In this article, it is shown that a wide range of comparative statics results from expected utility theory can be extended
to generalized expected utility models using the tools of supermodularity theory. In particular, a range of concepts of decreasing
absolute risk aversion may be formulated in terms of the supermodularity properties of certainty equivalent representations
of preferences. |
| |
Keywords: | supermodularity comparative statics risk |
本文献已被 SpringerLink 等数据库收录! |
|