Table 1. Relationships among Arrow-Pratt risk aversion measures
_____DRRA |
CRRA_____ |
IRRA | |
DARA |
Feasible |
Feasible |
Feasible |
CARA |
Not feasible |
Not feasible |
Feasible |
IARA |
______Not feasible |
Not feasible_____ |
______Feasible______ |
Source: Saha (1997)
Table 2. The conditions imposed on MS function under LS condition
______DRRA |
CRRA |
_____IRRA | |
DARA |
(1)(2)(3-i) (3-ii)(3-iii) |
(1)(2)(3-i)(3-ii)(3-iii) |
(1)(2)(3-i)(3-ii)(3-iii) |
CARA |
Not feasible |
Not feasible |
(1)(2)(3-i)(3-ii)(3-iii) |
IARA |
Not feasible |
Not feasible |
(1)(2)(3-i)(3-ii)(3-iii) |
32
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