Miary intensywności zachowań rozważnych

• Authors: Donata Kopańska-Bródka

Title variants

EN

Measure of the Intensity of Prudent Behavior

• Languages of publication: PL

Abstracts

EN

The behavior of the risk averse decision-maker is prudent if the precautionary saving activities are taken to avoid risk. Prudence is defined as a particular type of the preference relation over uncertain choices. Our goal in this paper is to show the relationship between the Arrow-Pratt coefficient of the risk aversion and the measure of the intensity of prudence. The properties of the utility function expressing prudence behavior are presented and the particular class of utility functions with non monotonic absolute risk aversion coefficient is considered.

Keywords

PL

Podejmowanie decyzji; Ryzyko; Zachowania konsumenta

EN

Consumer behaviour; Decision making; Risk

• Publisher: Uniwersytet Ekonomiczny w Katowicach
• Journal: Studia Ekonomiczne
• Year: 2013
• Volume: 135
• Pages: 79-87

Contributors

author

Donata Kopańska-Bródka

References

• Caballe J., Pomansky A. (1996): Mixed Risk Aversion. "Journal of Economic Theory", No. 71.
• Eeckhoudt L., Schlesinger H. (2006): Putting Risk In Its Proper Place. "American Economic Review", 96(1).
• Kimball M. (1990): Precautionary Saving in the Small and in the Large. "Econometrica", No. 58, (1).
• Leland H.E. (1968): Saving and Uncertainty: The Precautionary Vulnerability. "Quarterly Journal of Economics", No. 82(3).
• Maggi M.A., Magnani U., Menegatti M. (2006): On the Relationship Between Absolute Prudence and Absolute Risk Aversion. "Decisions in Economics and Finance", No. 29.
• Pratt J., Zeckhauser R.J. (1987): Proper Risk Aversion. "Econometrica", No. 55 (1).

Identifiers

ISSN

2083-8611