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New results on the relationship among risk aversion, prudence and temperance
16 references·15 citing·28 second hop
New results on the relationship among risk aversion, prudence and temperance (2013)New results on the relationship among ris…Increasing Downside Risk (2016)Increasing Downside RiskStochastic Dominance: Investment Decision Making under Uncertainty (2010)Stochastic Dominance: Investm…The Economics of Risk and Time (2001)The Economics of Risk and TimeRisk Vulnerability and the Tempering Effect of Background Risk (1996)Risk Vulnerability and the Te…Changes in Background Risk and Risk Taking Behavior (1996)Changes in Background Risk an…The new Palgrave dictionary of money and finance (1992)The new Palgrave dictionary o…Standard Risk Aversion (1991)Standard Risk AversionPrecautionary Saving in the Small and in the Large (1990)Precautionary Saving in the S…Lectures on Macroeconomics. (1990)Lectures on Macroeconomics.Lectures on Macroeconomics. (1990)Lectures on Macroeconomics.Precautionary Saving in the Small and in the Large (1989)Precautionary Saving in the S…Proper Risk Aversion (1987)Proper Risk AversionRisk Aversion in the Small and in the Large (1976)Risk Aversion in the Small an…The Effect of Uncertainty on Saving Decisions (1970)The Effect of Uncertainty on …Saving and Uncertainty: The Precautionary Demand for Saving (1968)Saving and Uncertainty: The P…Risk Aversion in the Small and in the Large (1964)Risk Aversion in the Small an…Quantum Mechanics Approach for Risk Aversion, Prudence, and Temperance (2024)Quantum Mechanics Approach fo…Preferences on discounting under time risk (2024)Preferences on discounting un…On the relationship between comparisons of risk aversion of different orders (2022)On the relationship between c…Some conditions for the equivalence between risk aversion, prudence and temperance (2020)Some conditions for the equiv…Risk aversion, downside risk aversion, and the transition to entrepreneurship (2020)Risk aversion, downside risk …The theory of precautionary saving: an overview of recent developments (2019)The theory of precautionary s…On temperance and risk spreading (2019)On temperance and risk spread…New Results for Additive and Multiplicative Risk Apportionment (2019)New Results for Additive and …How do changes in risk and risk aversion affect self-protection with Selden/Kreps–Porteus preferences? (2019)How do changes in risk and ri…Tradeoffs for Downside Risk-Averse Decision-Makers and the Self-Protection Decision (2016)Tradeoffs for Downside Risk-A…Prudence and Different Kinds of Prevention (2016)Prudence and Different Kinds …Changing risks and optimal effort (2016)Changing risks and optimal ef…A Comparison of Survey and Incentivized-Based Risk Attitude Elicitation (2016)A Comparison of Survey and In…New results on high-order risk changes (2015)New results on high-order ris…New Insight on the Relationship between Higher-Order Risk Aversion Attitudes (2015)New Insight on the Relationsh…Essays in the Theory of Risk-Bearing. (1972)Strategic Asset Allocation (2002)Idiosyncratic Risk Matters! (2003)Eliciting Risk and Time Preferences (2008)Theory of games and economic behavior (2019)Understanding Consumption (1992)Buffer-Stock Saving and the Life Cycle/Permanent Income Hypothesis (1997)Conditional Skewness in Asset Pricing Tests (2000)Economic Growth and Convergence across The United States (1990)The Theory of Incentives: The Principal-Agent Model (2001)On the Empirics of Foreign Aid and Growth (2004)Macroeconomic determinants of growth: Cross-country evidence (1985)An empirical analysis of cross-national economic growth, 1951–1980 (1989)The Buffer-Stock Theory of Saving: Some Macroeconomic Evidence (1992)DO NATURAL DISASTERS PROMOTE LONG‐RUN GROWTH? (2002)Portfolio Choice and Asset Prices: The Importance of Entrepreneurial Risk (2000)The Role of Social Capital in Financial Development (2004)Financial Intermediation and Delegated Monitoring (1984)Prospect theory: An analysis of decision under risk (1988)Well-being : the foundations of hedonic psychology (1999)Uninsured Idiosyncratic Risk and Aggregate Saving (1994)The analysis of household surveys (1997)On the measurement of inequality (1970)THE VALUATION OF RISK ASSETS AND THE SELECTION OF RISKY INVESTMENTS IN STOCK PORTFOLIOS AND CAPITAL BUDGETS**This paper is another in a series of interrelated theoretical and statistical studies of corporate financial and investment policies being made under grants from the Rockefeller Foundation, and more recently the Ford Foundation, to the Harvard Business School. The generous support for this work is most gratefully acknowledged. The author is also much indebted to his colleagues Professors Bishop, Christenson, Kahr, Raiffa, and (especially) Schlaifer, for extensive discussion and commentary on an earlier draft of this paper; but responsibility for any errors or imperfections remains strictly his own.[Professor Sharpe's paper, “Capital Asset Prices: A Theory of Market Equilibrium Under Conditions of Risk” (Journal of Finance, September 1964) appeared after this paper was in final form and on its way to the printers. My first section, which parallels the first half of his paper (with corresponding conclusions), sets the algebraic framework for sections II, III and VI, (which have no counterpart in his paper) and for section IV on the equilibrium prices of risk assets, concerning which our results differ significantly for reasons which will be explored elsewhere. Sharpe does not take up the capital budgeting problem developed in section V below.] (1975)The arbitrage theory of capital asset pricing (1976)An Aging Society: Opportunity or Challenge? (1990)Price-level determinacy without control of a monetary aggregate (1995)Sticky Price Models of the Business Cycle: Can the Contract Multiplier Solve the Persistence Problem? (2000)
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References

  • 1964Risk Aversion in the Small and in the Large4,964 cited
  • 1976Risk Aversion in the Small and in the Large4,655 cited
  • 1990Precautionary Saving in the Small and in the Large1,850 cited
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  • 2001The Economics of Risk and Time1,361 cited
  • 1990Lectures on Macroeconomics.1,252 cited
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  • 1970The Effect of Uncertainty on Saving Decisions923 cited
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  • 2010Stochastic Dominance: Investment Decision Making under Uncertainty591 cited
  • 1987Proper Risk Aversion540 cited
  • 2016Increasing Downside Risk480 cited
  • 1996Changes in Background Risk and Risk Taking Behavior353 cited

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  • 2019The theory of precautionary saving: an overview of recent developments78 cited
  • 2016Changing risks and optimal effort30 cited
  • 2015New results on high-order risk changes25 cited
  • 2016Tradeoffs for Downside Risk-Averse Decision-Makers and the Self-Protection Decision20 cited
  • 2020Risk aversion, downside risk aversion, and the transition to entrepreneurship17 cited
  • 2016Prudence and Different Kinds of Prevention7 cited
  • 2019How do changes in risk and risk aversion affect self-protection with Selden/Kreps–Porteus preferences?6 cited
  • 2020Some conditions for the equivalence between risk aversion, prudence and temperance6 cited
  • 2019New Results for Additive and Multiplicative Risk Apportionment5 cited
  • 2024Quantum Mechanics Approach for Risk Aversion, Prudence, and Temperance3 cited
  • 2022On the relationship between comparisons of risk aversion of different orders2 cited
  • 2024Preferences on discounting under time risk2 cited
  • 2019On temperance and risk spreading2 cited
  • 2016A Comparison of Survey and Incentivized-Based Risk Attitude Elicitation1 cited
  • 2015New Insight on the Relationship between Higher-Order Risk Aversion Attitudes0 cited