Relative Risk Aversion: What Do We Know?

@article{Meyer2005RelativeRA,
  title={Relative Risk Aversion: What Do We Know?},
  author={Donald Jay Meyer and Jack Meyer},
  journal={Journal of Risk and Uncertainty},
  year={2005},
  volume={31},
  pages={243-262}
}
The relative risk aversion measure that represents the risk preferences of a decision maker depends on the outcome variable that is used as the argument of the utility function, and on the way that outcome variable is defined or measured. In addition, the relationship between any two such relative risk aversion measures is determined by the relationship between the corresponding outcome variables. These well-known facts are used to adjust several reported estimates of relative risk aversion so… CONTINUE READING

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