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- Title
MAXIMUM ACCEPTABLE PHYSICAL RISK AND A NEW MEASURE OF FINANCIAL RISK-AVERSION.
- Authors
Jones-Lee, M. W.
- Abstract
The purpose of this paper is (i) to propose a new measure of financial risk-aversion (tentatively called `asymptotic risk-aversion', RL); (ii) to establish the properties of RL as a measure of attitudes to financial risk and (iii) to show that there exists an extremely simple (and therefore potentially very powerful) relationship between RL and two important measures of an individual's attitude to purely physical risk.
- Subjects
RISK; RISK aversion; RISK assessment; RISK management in business; WEALTH; DEATH
- Publication
Economic Journal, 1980, Vol 90, Issue 359, p550
- ISSN
0013-0133
- Publication type
Article
- DOI
10.2307/2231926