caa a22 4500 463174232 CHVBK 20180406164821.0 cr unu---uuuuu 170326e20070101xx s 000 0 eng 10.1007/s00355-006-0151-x doi (NATIONALLICENCE)springer-10.1007/s00355-006-0151-x Stochastic Dominance and Absolute Risk Aversion [Elektronische Daten] [Jordi Caballe, Joan Esteban] In this paper, we propose the infimum of the Arrow-Pratt index of absolute risk aversion as a measure of global risk aversion of a utility function. We show that, for any given arbitrary pair of distributions, there exists a threshold level of global risk aversion such that all increasing concave utility functions with at least as much global risk aversion would rank the two distributions in the same way. Furthermore, this threshold level is sharp in the sense that, for any lower level of global risk aversion, we can find two utility functions in this class yielding opposite preference relations for the two distributions. Springer-Verlag, 2006 Caballe Jordi Departament d'Economia i d'Història Econòmica, Unitat de Fonaments de l'Anàlisi Econòmica and CODE, Universitat Autònoma de Barcelona, Edifici B., 08193, Barcelona, Bellaterra, Spain aut Esteban Joan Institut d'Anàlisi Econòmica, Consejo Superior de Investigaciones Científicas, 08193, Barcelona, Bellaterra, Spain aut Social Choice and Welfare Springer-Verlag 28/1(2007-01-01), 89-110 0176-1714 28:1<89 2007 28 355 https://doi.org/10.1007/s00355-006-0151-x text/html Onlinezugriff via DOI 1 research-article jats NATIONALLICENCE 856 40 https://doi.org/10.1007/s00355-006-0151-x text/html Onlinezugriff via DOI NATIONALLICENCE 700 1- Caballe Jordi Departament d'Economia i d'Història Econòmica, Unitat de Fonaments de l'Anàlisi Econòmica and CODE, Universitat Autònoma de Barcelona, Edifici B., 08193, Barcelona, Bellaterra, Spain aut NATIONALLICENCE 700 1- Esteban Joan Institut d'Anàlisi Econòmica, Consejo Superior de Investigaciones Científicas, 08193, Barcelona, Bellaterra, Spain aut NATIONALLICENCE 773 0- Social Choice and Welfare Springer-Verlag 28/1(2007-01-01), 89-110 0176-1714 28:1<89 2007 28 355 Metadata rights reserved Springer special CC-BY-NC licence nationallicence BK010053 XK010053 XK010000 NATIONALLICENCE NATIONALLICENCE NL-springer