Background risk in generalized expected utility theory
By John Quiggin. 2003
85 citations recorded by the source corpus.
Subfields: General Decision Sciences, Management Science and Operations Research
View Paper: https://www.semanticscholar.org/paper/c0741ecb0681501851f131d1d736f99071dfb346
How researchers see this paper
The researchers whose trusted networks rank it highest, strongest advocate first. Every researcher gets a different order.
In General Decision Sciences
- Glenn W. Harrison
- Benno Torgler
- John A. List
- D. Savage
- Lionel Page
- Charles A. Towe
- E Elisabet Rutström
- Daniel John Zizzo
In Management Science and Operations Research
- Glenn W. Harrison
- John A. List
- Charles A. Towe
- Jackson Loomis
- Jayson L. Lusk
- James J. Murphy
- Thomas Stevens
- J. Ladenburg
Citations in the corpus
- Impact of Violent Crime on Risk Aversion: Evidence from the Mexican Drug War (2019, unknown): “5! ! people living in high risk environments act in a less risk averse way as they are not as concerned about risks that seem small relative to their general setting (Quiggin, 2003).”
- Naturally Occurring Preferences and Exogenous Laboratory Experiments: A Case Study of Risk Aversion (2007, methodology): “Making use of the concept of constant risk aversion presented by Safra and Segal (1998), Quiggin (2003) showed that the premium for a given risk is always reduced by the presence of independent background risk.”
- Risk-Taking Behavior in the Wake of Natural Disasters (2015, unknown): “Quiggin (2003), using non-expected utility theories based on probability weighting shows that for a wide range of risk-averse utility functions, independent risks are complementary rather than substitutes. That is, aversion to one risk will be reduced by the presence of an independent background ris”
- Variation in risk seeking behaviour following large losses: A natural experiment (2014, background): “The necessary link between background risk and more risk aversion has been contested by Quiggin (2003) who showed that for generalized EU theory, such as Yaari’s (1987) dual theory, background risk can actually lead to the opposite effect of that suggested in the EU framework, thereby increasing…”