Titelaufnahme

Titel
On social preferences and the intensity of risk aversion / Oded Stark (University of Bonn, University of Warsaw, and IZA) ; IZA Institute of Labor Economics
VerfasserStark, Oded
KörperschaftForschungsinstitut zur Zukunft der Arbeit
ErschienenBonn, Germany : IZA Institute of Labor Economics, June 2019
Ausgabe
Elektronische Ressource
Umfang1 Online-Ressource (29 Seiten) : Diagramme
SerieDiscussion paper ; no. 12423
URLVolltext
URNurn:nbn:de:hbz:5:2-193058 
Zugänglichkeit
 Das Dokument ist öffentlich zugänglich im Rahmen des deutschen Urheberrechts.
Volltexte
On social preferences and the intensity of risk aversion [0.23 mb]
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Verfügbarkeit In meiner Bibliothek
Zusammenfassung (Englisch)

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 individuals desire to advance further in the wealth hierarchy is more important to him than possibly missing out on a better rank.

Nutzungshinweis
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