Measuring Price Risk Aversion through Indirect Utility Functions: A Laboratory Experiment
The present paper introduces a theoretical framework through which the degree of risk aversion with respect uncertain prices can be measured through the context of the indirect utility function (IUF) using a lab experiment. First, the paper introduces the main elements of the duality theory (DT) in...
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| Format: | Article |
| Language: | English |
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MDPI AG
2022-08-01
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| Series: | Games |
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| Online Access: | https://www.mdpi.com/2073-4336/13/4/56 |