Open AccessJournal Article
Increasing Risk: A Definition and Its Economic Consequences
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This article is published in Research Papers in Economics.The article was published on 1969-01-01 and is currently open access. It has received 32 citations till now.read more
Citations
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On the Measurement of Inequality
TL;DR: In this paper, the problem of comparing two frequency distributions f(u) of an attribute y which for convenience I shall refer to as income is defined as a risk in the theory of decision-making under uncertainty.
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Resistance to Reform: Status Quo Bias in the Presence of Individual-Specific Uncertainty: Comment
TL;DR: The authors show that there is a bias towards the status quo (and hence against efficiency-enhancing reforms) whenever some of the individual gainers and losers from reform cannot be identified beforehand.
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Some Aspects of the Pure Theory of Corporate Finance: Bankruptcies and Take-Overs: Reply
TL;DR: In this article, the authors consider the implications of bankruptcy, take-overs, and divergent expectations for the financial policy of the firm and argue that, under reasonable assumptions, there is an optimal debt-equity ratio.
Posted Content
Inequality Aversion versus Risk Aversion
Yoram Kroll,Liema Davidovitz +1 more
TL;DR: In this paper, the authors present methodology and a laboratory experiment, which separates inequality aversion from risk aversion, in a set of laboratory experiments, subjects had to choose between two risky alternatives which pay meaningful prizes with the same individual risk but different levels of egalitarianism.
References
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General Proof that Diversification Pays
TL;DR: The authors showed that putting a fixed total of wealth equally into independently, identically distributed investments will leave the mean gain unchanged and will minimize the variance, which is a common adage in finance.
Related Papers (5)
The Sociology of Risk : Problems of Technological Risk in Complex Systems: Model Incompleteness, Unintended Consequences, and the Risks of Risk Assessment
Tom R. Burns,Nora Machado +1 more