Comparative ambiguity aversion and downside ambiguity aversion

doi:10.1016/j.insmatheco.2015.04.002

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	Comparative ambiguity aversion and downside ambiguity aversion
	Huang, Yi-Chieh 1; Tzeng, Larry Y.2,3; Zhao, Lin4
	2015-05-01
发表期刊	INSURANCE MATHEMATICS & ECONOMICS
ISSN	0167-6687
卷号	62 页码:257-269
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. (C) 2015 Elsevier B.V. All rights reserved.
关键词	Ambiguity Downside ambiguity Comparative ambiguity aversion Comparative downside ambiguity aversion Effort
DOI	10.1016/j.insmatheco.2015.04.002
语种	英语
资助项目	Ministry of Science and Technology (MOST)[102-2410-H-002-028-MY3] ; National Science Foundation of China (NSFC)[71301161]
WOS研究方向	Business & Economics ; Mathematics ; Mathematical Methods In Social Sciences
WOS类目	Economics ; Mathematics, Interdisciplinary Applications ; Social Sciences, Mathematical Methods ; Statistics & Probability
WOS记录号	WOS:000356196100024
出版者	ELSEVIER SCIENCE BV
引用统计
文献类型	期刊论文
条目标识符	http://ir.amss.ac.cn/handle/2S8OKBNM/19940
专题	系统科学研究所
通讯作者	Tzeng, Larry Y.
作者单位	1.Feng Chia Univ, Dept Risk Management & Insurance, Taichung 40724, Taiwan 2.Natl Taiwan Univ, Dept & Grad Inst Finance, Taipei 10673, Taiwan 3.Natl Chengchi Univ, Risk & Insurance Res Ctr, Taipei 11605, Taiwan 4.Chinese Acad Sci, Inst Syst Sci, Beijing 100190, Peoples R China
推荐引用方式 GB/T 7714	Huang, Yi-Chieh,Tzeng, Larry Y.,Zhao, Lin. Comparative ambiguity aversion and downside ambiguity aversion[J]. INSURANCE MATHEMATICS & ECONOMICS,2015,62:257-269.
APA	Huang, Yi-Chieh,Tzeng, Larry Y.,&Zhao, Lin.(2015).Comparative ambiguity aversion and downside ambiguity aversion.INSURANCE MATHEMATICS & ECONOMICS,62,257-269.
MLA	Huang, Yi-Chieh,et al."Comparative ambiguity aversion and downside ambiguity aversion".INSURANCE MATHEMATICS & ECONOMICS 62(2015):257-269.