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I am grateful to M. Ohkawa, H. Ohta, K. Ohtani, Y. Sakai, A. Takayama and M. Tawada for their stimulating and helpful discussions on the paper. I am also indebted to an anonymous referee for valuable comments on an earlier version of the paper. All responsibility for possible errors rests with me.
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Honda, Y. Risk, risk aversion and many control variables. Zeitschr. f. Nationalökonomie 43, 405–422 (1983). https://doi.org/10.1007/BF01283188
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DOI: https://doi.org/10.1007/BF01283188