On relative and partial risk attitudes: Theory and implications

W. Henry Chiu, Louis Eeckhoudt, Beatrice Rey

Research output: Contribution to journalArticlepeer-review


This paper develops context-free interpretations for the relative and partial Nth degree risk attitude measures and show that various conditions on theses measures are utility characterizations of the effects of scaling general stochastic changes in different settings. It is then shown that these characterizations can be applied to generalize comparative statics results in a number of important problems, including precautionary savings, optimal portfolio choice, and competitive firms under price uncertainty. © 2010 Springer-Verlag.
Original languageEnglish
Pages (from-to)151-167
Number of pages16
JournalEconomic Theory
Issue number1
Publication statusPublished - May 2012


  • Comparative statics
  • Nth degree risk
  • Relative risk aversion
  • Risk apportionment
  • Stochastic dominance


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