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  • 1
    Electronic Resource
    Electronic Resource
    Beneficial changes in random variables under multiple sources of risk and their comparative statics (1992)
    Springer
    The Geneva risk and insurance review 17 (1992), S. 7-191 
    Details
    ISSN: 1554-9658
    Keywords: Risk ; Insurance Demand ; Deterministic Transformations ; Stochastic Dominance ; Expected Utility
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Notes: Abstract The consequences of a change in a random parameter are determined for a decision model with more than one source of randomness. The two cases of independent and stochastically dependent sources of risk are discussed. Four comparative static theorems are given. These state the effect of first degree stochastically dominant shifts or risk decreases for one random variable while the other random variable is held fixed. Deterministic transformations are used to represent random parameter changes. The results are presented in the context of the coinsurance demand model with a risky insurable asset and background risk.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF00941954
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  • 2
    Electronic Resource
    Electronic Resource
    Deterministic transformations of random variables and the comparative statics of risk (1989)
    Springer
    Journal of risk and uncertainty 2 (1989), S. 179-188 
    Details
    ISSN: 1573-0476
    Keywords: deterministic transformations ; Rothschild-Stiglitz increase in risk ; simple and linear transformations ; comparative statics
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Notes: Abstract In this article, a general class of deterministic transformations that can be interpreted as changes in risk are identified. This provides a fourth characterization of a Rothschild-Stiglitz increase in risk. In addition, a particular subclass of these transformations, termed simple transformations, is shown to be well suited for comparative static analyses. This subclass contains as a special case the linear transformation used so often in the literature. A theorem is presented that generalizes the known comparative static results for large as well as small changes in risk.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF00056136
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    Paper (German National Licenses)
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