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Relative Risk Aversion: Increasing or Decreasing?

Published online by Cambridge University Press:  06 April 2009

Philip E. Graves
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Extract

The existence of risk aversion in portfolio theory can be explained by positing a concave utility function of wealth. In some cases it is useful to construct some measure of risk aversion rather than merely accept its existence.

Type
Research Article
Information
Journal of Financial and Quantitative Analysis , Volume 14 , Issue 2 , June 1979 , pp. 205 - 214
Copyright
Copyright © School of Business Administration, University of Washington 1979

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References

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