The well-known Pratt–Arrow approximation, developed independently by John W. Pratt and Kenneth Arrow, provides an insightful dissection of the risk premium under expected utility (EU) model. It is given one-half product variance local index absolute aversion decision maker. Quite surprisingly, despite many important developments on “global” in non-EU models, “local” approach to has received lit...

This paper analyzes the relationship between individuals' attitudes towards risk and their decision to migrate. We consider migration in United States across metropolitan statistical areas (MSAs) 1997 2015, based on data from Panel Study of Income Dynamics (PSID). Using random-effects specifications, we find that being relatively more willing take risks is positively significantly related cross...

BACKGROUND There is variation in the decisions made by telephone assessment nurses using computerised decision support software (CDSS). Variation in nurses' attitudes to risk has been identified as a possible explanatory factor. This study was undertaken to explore the effect of nurses' attitudes to risk on the decisions they make when using CDSS. The setting was NHS 24 which is a nationwide te...

BACKGROUND Primary health care (PHC) clinicians have an important role to play in addressing lifestyle risk factors for chronic diseases. However they intervene only rarely, despite the opportunities that arise within their routine clinical practice. Beliefs and attitudes have been shown to be associated with risk factor management practices, but little is known about this for PHC clinicians wo...