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- W2024252055 abstract "We provide necessary and sufficient conditions on an individual's expected utility function under which any zero-mean idiosyncratic risk increases cautiousness (the derivative of the reciprocal of the absolute risk aversion), which is the key determinant for this individual's demand for options and portfolio insurance." @default.
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- W2024252055 date "2011-01-01" @default.
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- W2024252055 title "Effects of background risks on cautiousness with an application to a portfolio choice problem" @default.
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