https://scholars.lib.ntu.edu.tw/handle/123456789/414418
標題: | Comparative ambiguity aversion and downside ambiguity aversion | 作者: | Huang Y.-C. Tzeng L.Y. Zhao L. |
關鍵字: | Ambiguity;Comparative ambiguity aversion;Comparative downside ambiguity aversion;Downside ambiguity;Effort | 公開日期: | 2015 | 卷: | 62 | 起(迄)頁: | 257-269 | 來源出版物: | Insurance: Mathematics and Economics | 摘要: | This paper first defines an increase in ambiguity and an increase in downside ambiguity. We then provide comparative criteria for ambiguity aversion and downside ambiguity aversion. Different from the finding that the comparative criterion for risk aversion is variant with the measure of the premium to reduce risks, we show that the criteria remain the same, whether the premiums to reduce ambiguity and downside ambiguity are measured by utility or money. Under the criteria, a more ambiguity-averse (downside-ambiguity-averse) individual is shown to spend more effort in reducing ambiguity (downside ambiguity) than a less ambiguity-averse (downside-ambiguity-averse) individual. ? 2015 Elsevier B.V. |
URI: | https://scholars.lib.ntu.edu.tw/handle/123456789/414418 | ISSN: | 01676687 | DOI: | 10.1016/j.insmatheco.2015.04.002 |
顯示於: | 財務金融學系 |
在 IR 系統中的文件,除了特別指名其著作權條款之外,均受到著作權保護,並且保留所有的權利。