Construct · 1 fields · 1 citations

Rabin calibration theorem: a standalone construct

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Behavioral economics

the theorem that modest risk aversion over small stakes implies absurd risk aversion over large stakes under expected utility of wealth.

In behavioral economics, Rabin calibration theorem refers to the theorem that modest risk aversion over small stakes implies absurd risk aversion over large stakes under expected utility of wealth. This meaning comes from Rabin (2000) in Econometrica.[1]

Unit
Recovery means
Measured by

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Nearby constructs

calibration3 fields · 5 citationsjingle · one word, three constructs risk6 fields · 13 citationsjingle · one name, six constructs utility3 fields · 3 citationsjingle · one word, three constructs

References

Rabin, M. (2000). Risk Aversion and Expected-utility Theory: A Calibration Theorem. Econometrica, 68(5), 1281-1292. https://doi.org/10.1111/1468-0262.00158

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