Generalized Expected Utility Analysis of Risk Aversion with State-Dependent Preferences
针对状态依赖且可由Frechet可微非线性泛函表示的风险偏好，提出了绝对风险厌恶度量，并通过航空旅行保险的最优购买分析展示了其应用，该框架在期望效用理论失效时仍能解释保险购买行为。
In this paper the author develops measures of absolute risk aversion for preference relations on risky prospects that are state-dependent and are representable by Frechet differentiable, nonlinear, functionals. A comparative statics analysis of optimal air travel insurance coverage illustrates the usefulness of the proposed measures. It is also demonstrated that the analytical framework described above is consistent with the purchase of air travel insurance even in circumstances where expected utility theory is not. Copyright 1987 by Economics Department of the University of Pennsylvania and the Osaka University Institute of Social and Economic Research Association.