On social preferences and the intensity of risk aversion

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dc.contributor.author Stark, Oded
dc.date.accessioned 2018-05-03T13:45:21Z
dc.date.available 2018-05-03T13:45:21Z
dc.date.issued 2018-05-02
dc.identifier.uri http://hdl.handle.net/10900/81788
dc.identifier.uri http://nbn-resolving.de/urn:nbn:de:bsz:21-dspace-817883 de_DE
dc.identifier.uri http://dx.doi.org/10.15496/publikation-23182
dc.description.abstract We study the relative risk aversion of an individual with particular social preferences: his wellbeing is influenced by his relative wealth, and by how concerned he is about having low relative wealth. Holding constant the individual’s absolute wealth, we obtain two results. First, if the individual’s level of concern about low relative wealth does not change, the individual becomes more risk averse when he rises in the wealth hierarchy. Second, if the individual’s level of concern about low relative wealth intensifies when he rises in the wealth hierarchy and if, in precise sense, this intensification is strong enough, then the individual becomes less risk averse: the individual’s desire to advance further in the wealth hierarchy is more important to him than possibly missing out on a better rank. en
dc.language.iso en de_DE
dc.publisher Universität Tübingen de_DE
dc.rights ubt-podno de_DE
dc.rights.uri http://tobias-lib.uni-tuebingen.de/doku/lic_ohne_pod.php?la=de de_DE
dc.rights.uri http://tobias-lib.uni-tuebingen.de/doku/lic_ohne_pod.php?la=en en
dc.subject.classification Economics de_DE
dc.subject.ddc 330 de_DE
dc.subject.other Relative risk aversion en
dc.subject.other Wealth rank en
dc.subject.other Concern about low relative wealth en
dc.title On social preferences and the intensity of risk aversion en
dc.type Aufsatz de_DE
utue.publikation.fachbereich Wirtschaftswissenschaften de_DE
utue.publikation.fakultaet 6 Wirtschafts- und Sozialwissenschaftliche Fakultät de_DE
utue.publikation.source University of Tübingen Working Papers in Economics and Finance ; 105 en
utue.publikation.noppn yes de_DE

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