In other words, a pair of random variables linked by the increasing convex order presents a non-satiated and risk averse
decision maker with a choice involving trading off size for risk.
Traditionally, many research literatures consider a model in which the firm is risk neutral and the customer is not loss averse
. Actually, the demand from the customer is just affected by the list price set by the firm and is nonincreasing in the price.
We classify all other subjects as "not more ambiguity averse
." Note that we do not have a category "ambiguity neutral" or "ambiguity seeking" because only nine and five subjects, respectively, would have been categorized as such.
If their reservation price r exceeds the retail price p, consumers are willing to buy at this price, so regular and salvage sales occur as in the risk averse
newsvendor model (i.e., min(Q, [xi]) units are sold at price p and the remaining are salvaged at price s); otherwise, all customers prefer to wait, no regular sales occur, and all units are salvaged at price s.
Interestingly, however, there was no difference in internal control assessments across subjects who were classified as risk averse
or risk seeking.
Numerous reports have highlighted the burdens faced by students who borrow large sums, but less is known about students who are averse
"If you're risk averse
," Boehm says, "avoid going to the beach during spring tides, and particularly during spring ebb tides."
The authors show that this conclusion is incorrect if the consumption path is smooth, because individuals are highly risk averse
. Exploratory tests suggest that Indonesian households are indeed quite risk averse
because of subsistence constraints.
to romanticizing Papuans or sugar-coating their own position, Villevoye and Dietvorst destroy the lingering illusion of New Guinea as an intact bit of prehistory.
The research group points out that while EAP clients actively volunteer for counselling, males with emotional problems may feel more inclined to seek help from their EAP than consult a mental health professional (i.e., the 'solution' focus of EAP is more aligned with typical male coping styles)." For employees who are 'therapy averse
,' EAP counselling may be viewed more as a form of 'coaching' or 'guidance counselling.' While EAPS cannot replace other forms of clinical counselling, they may be effective for addressing mild to moderate emotional problems and act as key access points for employees who require more intensive help for severe forms of emotional distress."
1964 Sir Winston Churchill's racing exploits have been predominantly on the Flat thanks to horses like Colonist, Vienna and Welsh Abbot, but he's not averse
to jumping and his colours are worn to victory when Sun Hat lands the juvenile hurdle at Kempton.
Lewitzky, who died July 16 at age 88, will be remembered for many achievements: as Lester Horton's one-time muse and colleague (see "Dancescape," DM, June, page 97), as a leader in dance education, for keeping a company afloat for 30 years in a city averse
to modern dance.