This study attempts to establish the univariate and multivariate risk preferences of individuals for health and wealth. Risk attitudes toward correlation and cross-prudence are measured. An online questionnaire is used to elicit the risk preferences of individuals. Individuals face lotteries regarding different levels of health and wealth using the risk apportionment method. For univariate risk preferences, individuals are risk averse for both wealth and health. For multivariate risk preferences, individuals are correlation averse between health and

Attema, A.E.
Business Economics
Erasmus School of Economics

Maltepe, D.N. (2020, July 31). Multivariate risk attitude for money and quality of life. Business Economics. Retrieved from