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What are some common properties for risk aversion?

I know the basic definition of the risk premium, absolute risk adversion, relative absolute risk adversion. Besides the basic definition, what are the good to know properties?

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It is a rather abstract concept, it is like preferring spicy food or not.

What's worth studying is the risk framework revolving around a certain risk appetite, usually top down, involving limits and evolving as market conditions change, different markets call for different risk appetite or aversion.

During the subprimes crisis a good exemple of risk aversion was the extremely high interbank rate, reflecting low trust and appetite for risk among market participants. Another example was the recent increase in interest and funds investing into distressed debt, due to the prolonged low interest rate era, reflecting a risk seeking market.

At the end of the day it is always a risk vs reward tradeoff .

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