The preference relations (≿A and ≿B) over lotteries is defined as:
p ≿ q iff min{v(z) : p(z) > 0} ≥ min{v(z) : q(z) > 0}
Under what conditions can you say that ≿A is more risk averse than ≿B?
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$\begingroup$ Please clarify your specific problem or provide additional details to highlight exactly what you need. As it's currently written, it's hard to tell exactly what you're asking. $\endgroup$– Community BotDec 8, 2021 at 11:15
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$\begingroup$ Hi. I have edited the question. I am given a preference relation and have to find relative risk aversion. I know how to do that in the case when preferences are defined by Expected Utility but don't know how to do it in this case $\endgroup$– archanaDec 8, 2021 at 14:10
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$\begingroup$ What is $p(z)$? What is $v(z)$? What is $q(z)$? Clarifying these definitions would get you a better answer, its too undefined at the moment. $\endgroup$– Walrasian AuctioneerDec 9, 2021 at 3:13
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