Theory and Decision 71 (2):227-234 (2011)

Abstract
The article gives a graphical interpretation of the concept of risk vulnerability. It shows that in a specific context of binary lotteries the assumption of risk vulnerability adds to prudence what the assumption of decreasing absolute risk aversion adds to risk aversion. We end the presentation showing that results can be extended to the concept of multiplicative risk vulnerability.
Keywords Decreasing absolute risk aversion  Decreasing relative risk aversion  Prudence  Multiplicative risk vulnerability  Risk vulnerability
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DOI 10.1007/s11238-009-9173-z
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