Notice of RetractionInvestment proportion´s incentive effects on risk aversion

Notice of Retraction

After careful and considered review of the content of this paper by a duly constituted expert committee, this paper has been found to be in violation of IEEE´s Publication Principles.

We hereby retract the content of this paper. Reasonable effort should be made to remove all past references to this paper.

The presenting author of this paper has the option to appeal this decision by contacting TPII@ieee.org.

Risk aversion is a fundamental element in asset pricing, contracts, and insurance. Most of economists have drawn conclusions that relative risk aversion coefficient (RRA) is no more than 2 in theory. However, the small coefficient can´t explain some economic phenomenon very well. Most of experiments researches achieved the RRA according to income or loss, but the risk aversion should measure people´s attitude toward wealth not just income with the original definition. This paper estimated the RRA according to the proportions of investing in the total wealth. And the conclusion is that RRA has much larger scale and it even can reach 20.