The nonlocal measures of risk-aversion in the economic process

Authors

V. V. Tarasova
Lomonosov Moscow State University, Russian Federation
V. E. Tarasov
Lomonosov Moscow State University, Russian Federation

Abstract

The article suggests risk-aversion measures to take into account the nonlocal effects in the description of consumer attitudes to risk. These measures depend on the utility changes on finite interval of values of income or of consumption, not only in the infinitely small neighbourhood of considered value. As a mathematical formalism, which allows us to describe nonlocal effects, authors used the theory of derivatives of arbitrary and non-integer orders. The standard risk-aversion measures are special cases of the proposed nonlocal measures.

Keywords

national security, economic security, transformation of the scientific approach, stability of the development

Authors Info

V. V. Tarasova

Master degree student of Higher School of Business at Lomonosov Moscow State University

V. E. Tarasov

Doctor of Physical and Mathematical Sciences, Leading Researcher of Skobeltsyn Institute of Nuclear Physics at Lomonosov Moscow State University

Article Sidebar

Article Details

Issue

2016 · No. 4 (44)

Section

Accounting System Analysis

Publication History

Published 2016-12-05

How to Cite

[1]
Tarasova V.V., Tarasov V.E. The nonlocal measures of risk-aversion in the economic process // Economics: Theory and Practice. 2016. No 4 (44). С. 54–58. URL: https://etip.kubsu.ru/article/view/317

License

Copyright (c) 2025 V. V. Tarasova, V. E. Tarasov

Creative Commons License

This work is licensed under a Creative Commons Attribution 4.0 International License.