A Risk-neutral Characterization of Optimization and Pessimism and its Applications
Osaki, Yusuke; Quiggin, John
2007

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Abstract

This note gives a simple, but useful characterization of optimism and pessimism represented by a convex and concave shift of probability weighting functions, and applies it to two comparative static analysis.

Details

Title A Risk-neutral Characterization of Optimization and Pessimism and its Applications
Keywords
Author(s) Osaki, Yusuke
Quiggin, John
Subject(s)
Issue Date 2007
Publication Type Working or Discussion Paper
DOI and Other Identifiers 10.22004/ag.econ.151180
Record Identifier https://ageconsearch.umn.edu/record/151180
PURL Identifier http://purl.umn.edu/151180
Total Pages 14
JEL Codes D81
Series Statement Risk and Uncertainty Program
R07/3
Record Appears in University of Queensland > School of Economics > Risk and Sustainable Management Group Working Papers

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