Choosing Between Risky Prospects: The Characterization of Comparative Statics Results, and Location Independent Risk
研究期望效用最大化者在风险前景中的选择如何受风险态度影响，刻画了比较静态结果存在的条件，并提出了位置无关风险标准。
We consider expected utility maximizers choosing from a family of risky prospects and examine how choice is influenced by the decision makers attitude to risk. If the family of risky prospects can be ordered so that as decision makers are more risk tolerant they choose a gamble higher in the ordering, then it is natural to say that the family of risky prospects admit a comparative static result. The paper characterizes when comparative static results of this sort exist. An application is to propose a criterion of location independent riskiness.