Machina, Mark J.; Neilson, William S. The Ross characterization of risk aversion: Strengthening and extension. (English) Zbl 0635.90010 Econometrica 55, 1139-1149 (1987). Summary: This paper offers an interpretive comparison of the Arrow/Pratt and Ross characterizations of comparative risk aversion for expected utility maximizers. The tools used in this comparison are then applied to obtain a strengthening of the Ross characterization. This strengthened result is then extended to the case of general smooth non-expected utility preferences over probability distributions. Cited in 17 Documents MSC: 91B16 Utility theory 91B08 Individual preferences Keywords:characterizations of comparative risk aversion; expected utility maximizers; smooth non-expected utility preferences PDFBibTeX XMLCite \textit{M. J. Machina} and \textit{W. S. Neilson}, Econometrica 55, 1139--1149 (1987; Zbl 0635.90010) Full Text: DOI Link