Is risk-aversion hereditary?

被引：2

作者：

Levy, M ^{[1
]}

机构：

[1] Hebrew Univ Jerusalem, IL-91905 Jerusalem, Israel

来源：

JOURNAL OF MATHEMATICAL ECONOMICS | 2005年 / 41卷 / 1-2期

关键词：

risk-aversion; heredity; Pareto; wealth distribution; PROSPECT-THEORY; ECONOMICS; EVOLUTION; PRICES; MODEL; LAW;

D O I：

10.1016/j.jmateco.2004.02.001

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

The degree of risk-aversion determines portfolio holdings and subsequently the distribution of wealth. Do we inherit our preferences, or are they determined randomly or through experience? Can preferences be "learned"? The empirically observed Pareto wealth distribution at the high-wealth range may provide an answer to these questions. We show that the Pareto wealth distribution implies an upper bound on the role of heredity in determining risk-aversion. (c) 2004 Elsevier B.V. All rights reserved.

引用

页码：157 / 168

页数：12

共 33 条

[1]

[Anonymous], MONOGRAPH COWLES COM

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