The Law of Demand and Risk Aversion
给出了效用函数满足需求定律的充要条件，并将其解释为对商品空间彩票的态度。应用表明，当代理人具有期望效用函数时，若相对风险厌恶系数变化不超过4，其证券需求满足需求定律。
This note proposes a necessary and sufficient condition on a utility function to guarantee that it generates a demand function satisfying the law of demand. This condition can be interpreted in terms of an agent's attitude towards lotteries in commodity space. As an application, we show that when an agent has an expected utility function, her demand for securities satisfies the law of demand if her coefficient of relative risk aversion does not vary by more than 4.