## 224 Citations

Axiomatic Measures of Risk and Risk-Value Models

- Economics
- 2011

A preference-dependent measure of risk is discussed that is compatible with traditional expected utility theory, and therefore lends itself to an examination of how individuals perceive risky gambles as well as how they choose among them.

Axiomatic Measures of Risk and Risk-Value Models†

- Economics
- 2014

A preference-dependent measure of risk is discussed that is compatible with traditional expected utility theory, and therefore lends itself to an examination of how individuals perceive risky gambles as well as how they choose among them.

RISK-VALUE THEORY

- Economics
- 1995

In this paper, we propose a new descriptive theory of decision making under risk, called “risk-value theory,” which leads to decision making by explicitly trading off between risk and value (i.e., a…

A standard measure of risk and risk-value models

- Economics
- 1996

In this paper we propose a standard measure of risk that is based on the converted expected utility of normalized lotteries with zero-expected values. This measure of risk has many desirable…

Axiomatic Models of Perceived Risk

- Economics
- 2014

This article presents two classes of measures for perceived risk based on decomposition of a lottery into its mean and its dispersion about the mean, or standard risk. One of the classes of risk…

Axiomatic Models of Perceived Risk

- Economics
- 2011

This article presents two classes of measures for perceived risk based on decomposing a lottery into its mean and its dispersion about the mean, or standard risk. One of the classes of risk measures…

Measures of Perceived Risk

- Economics
- 1999

Based on our previous work on the standard measure of risk, this paper presents two classes of measures for perceived risk by decomposing a lottery into its mean and standard risk. One of the classes…

## References

SHOWING 1-10 OF 54 REFERENCES

SOME STRONGER MEASURES OF RISK AVERSION IN THE SMALL AND THE LARGE WITH APPLICATIONS

- Economics
- 1981

THE ARROW-PRATT MEASURES of risk aversion for von Neumann-Morgenstern utility functions have become workhorses for analyzing problems in the microeconomics of uncertainty. They have been used to…

Prospect theory: analysis of decision under risk

- Economics
- 1979

Analysis of decision making under risk has been dominated by expected utility theory, which generally accounts for people's actions. Presents a critique of expected utility theory as a descriptive…

Behavioral Models of Risk Taking in Business Decisions: A Survey and Evaluation

- Business, Economics
- 1977

Many business decisions involve comparative evaluation of alternatives that can be described by probability distributions over future returns. Examples include long-term contract evaluation,…

Asset Pricing in a Generalized Mean-Lower Partial Moment Framework: Theory and Evidence

- Economics, Business
- 1989

A new asset pricing model that generalizes earlier results in the downside risk literature is developed and empirically tested using a multivariate approach. By specifying risk as deviations below…

Some extensions of Luce's measures of risk

- Business
- 1987

In this paper we extend measures of risk proposed by Luce. A new exponential model of risk is developed that may be empirically more acceptable than the log model of Luce.Expectation principle is…

THE VALUATION OF RISK ASSETS AND THE SELECTION OF RISKY INVESTMENTS IN STOCK PORTFOLIOS AND CAPITAL BUDGETS

- Economics
- 1965

Risk and Distributional Inequality.

- Economics, Psychology
- 1984

Abstract : A distributional model of risk is described in which it is hypothesized that people's judgments of risk are similar to the kinds of judgments made in welfare economics concerning…

Foundations of Risk Measurement. I. Risk As Probable Loss

- Economics
- 1984

This paper seeks to get behind specific contextual referents of risky situations to consider characteristics of risk that apply to many situations. It is guided by previous theoretical and empirical…