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Local risk proneness in analytically approximated utility functions under monotonically decreasing preferences

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posted on 2023-05-19, 23:56 authored by Nataliya NikolovaNataliya Nikolova, Mednikarov, B, Kiril TenekedjievKiril Tenekedjiev
We discuss an analytical arctan form to approximate decreasing utilities based on several nodes of its graphics elicited in interval form. We demonstrate the process on two types of nodes originating from different subjective elicitation approaches. Our focus is also on the local risk attitude estimator, which in the case of decreasing preferences gets interpreted as local risk proneness vs the local risk aversion for increasing preferences.

History

Publication title

Proceedings of the Bulgarian Academy of Sciences

Volume

71

Issue

11

Pagination

1534-1543

ISSN

2367-5535

Department/School

Australian Maritime College

Publisher

Akademichno Izdatelstvo Prof. Marin Drinov, Prof. Marin Drinov Academic Publishing House

Place of publication

Bulgaria

Rights statement

Copyright 2018 Comptes rendus de l'Académie bulgare des Sciences

Repository Status

  • Open

Socio-economic Objectives

Expanding knowledge in the information and computing sciences

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