A global index of riskiness

Adi Schnytzer; Sara Westreich

doi:10.1016/j.econlet.2012.12.018

A global index of riskiness

Adi Schnytzer, Sara Westreich

Research output: Contribution to journal › Article › peer-review

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Abstract

We extend the pioneering work of Aumann-Serrano by presenting an index of riskiness for gambles with either positive or negative expectations. It can be of use for a variety of abstract behaviors, when adapting the framework of either Expected-Utility Theory or Prospect Theory.

Original language	English
Pages (from-to)	493-496
Number of pages	4
Journal	Economics Letters
Volume	118
Issue number	3
DOIs	https://doi.org/10.1016/j.econlet.2012.12.018
State	Published - Mar 2013

Keywords

Duality axiom
Expected Utility Theory
Index of riskiness
Prospect theory
Utility functions
Value functions

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10.1016/j.econlet.2012.12.018

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A global index of riskiness

Abstract

Keywords

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