Background risk and the demand for state-contingent claims

Zitieren

Dateien zu dieser Ressource

Prüfsumme: MD5:be9275c27db88779453a09cd106420fd

FRANKE, Günter, Richard C. STAPLETON, Marti G. SUBRAHMANYAM, 2004. Background risk and the demand for state-contingent claims. In: Economic Theory. 23, pp. 321-335

@article{Franke2004Backg-11908, title={Background risk and the demand for state-contingent claims}, year={2004}, doi={10.1007/s00199-003-0368-1}, volume={23}, journal={Economic Theory}, pages={321--335}, author={Franke, Günter and Stapleton, Richard C. and Subrahmanyam, Marti G.} }

<rdf:RDF xmlns:rdf="http://www.w3.org/1999/02/22-rdf-syntax-ns#" xmlns:bibo="http://purl.org/ontology/bibo/" xmlns:dc="http://purl.org/dc/elements/1.1/" xmlns:dcterms="http://purl.org/dc/terms/" xmlns:xsd="http://www.w3.org/2001/XMLSchema#" > <rdf:Description rdf:about="https://kops.uni-konstanz.de/rdf/resource/123456789/11908"> <dc:rights>deposit-license</dc:rights> <dc:language>eng</dc:language> <dc:format>application/pdf</dc:format> <dc:date rdf:datatype="http://www.w3.org/2001/XMLSchema#dateTime">2011-03-25T09:41:02Z</dc:date> <dcterms:abstract xml:lang="eng">We consider the demand for state-contingent claims, in the presence of an independent zero-mean, non-hedgeable background risk. An agent is defined to be generalized risk averse if he/she chooses a demand function for contingent claims with a smaller slope everywhere, given a simple increase in background risk. We show that the conditions for standard risk aversion, that is positive, declining absolute risk aversion and prudence, are necessary and sufficient for generalized risk aversion.</dcterms:abstract> <dc:contributor>Stapleton, Richard C.</dc:contributor> <dcterms:issued>2004</dcterms:issued> <dc:contributor>Subrahmanyam, Marti G.</dc:contributor> <bibo:uri rdf:resource="http://kops.uni-konstanz.de/handle/123456789/11908"/> <dcterms:title>Background risk and the demand for state-contingent claims</dcterms:title> <dc:creator>Stapleton, Richard C.</dc:creator> <dc:creator>Subrahmanyam, Marti G.</dc:creator> <dc:contributor>Franke, Günter</dc:contributor> <dcterms:rights rdf:resource="https://creativecommons.org/licenses/by-nc-nd/2.0/legalcode"/> <dcterms:available rdf:datatype="http://www.w3.org/2001/XMLSchema#dateTime">2011-03-25T09:41:02Z</dcterms:available> <dc:creator>Franke, Günter</dc:creator> <dcterms:bibliographicCitation>First publ. in: Economic Theory 23 (2004), pp. 321-335</dcterms:bibliographicCitation> </rdf:Description> </rdf:RDF>

Dateiabrufe seit 01.10.2014 (Informationen über die Zugriffsstatistik)

Background_Risk_04.pdf 93

Das Dokument erscheint in:

deposit-license Solange nicht anders angezeigt, wird die Lizenz wie folgt beschrieben: deposit-license

KOPS Suche


Stöbern

Mein Benutzerkonto