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On Social Preferences and the Intensity of Risk Aversion

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cris.lastimport.scopus2024-02-12T19:52:01Z
dc.abstract.enWe 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.
dc.affiliationUniwersytet Warszawski
dc.contributor.authorStark, Oded
dc.date.accessioned2024-01-25T15:45:41Z
dc.date.available2024-01-25T15:45:41Z
dc.date.issued2019
dc.description.financeNie dotyczy
dc.description.number3
dc.description.volume86
dc.identifier.doi10.1111/JORI.12239
dc.identifier.issn0022-4367
dc.identifier.urihttps://repozytorium.uw.edu.pl//handle/item/114750
dc.identifier.weblinkhttps://api.wiley.com/onlinelibrary/tdm/v1/articles/10.1111%2Fjori.12239
dc.languageeng
dc.pbn.affiliationeconomics and finance
dc.relation.ispartofJournal of Risk and Insurance
dc.relation.pages807-826
dc.rightsClosedAccess
dc.sciencecloudnosend
dc.titleOn Social Preferences and the Intensity of Risk Aversion
dc.typeJournalArticle
dspace.entity.typePublication