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Working paper 1805 generalizes the three main choice-based approaches to measuring risk aversion, which includes the probability premium approach, the risk premium approach, and the comparative statistics approach, and focuses on how to measure the strength of higher-degree risk aversion. It builds on Dr. Liu’s previous joint research with PERC visiting professor Jack Meyer from Michigan State University. The paper has recently been accepted for publication in the journal Management Science.

To read more on working paper 1805, click here.