Risk Aversion

Explaining rank-dependent utility with regret and rejoicing
We fill a gap in the literature by formally defining the notion of aversion to risk of…
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Eliciting ambiguity aversion in unknown and in compound lotteries: A KMM experimental approach
Coherent-ambiguity aversion is defined within the (Klibanoff et al., Econometrica 73:1849–1892, 2005) smooth-ambiguity model (henceforth KMM) as…
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The condition of Risk Aversion implies that the Utility Function must be concave. Taking into account the…
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This paper studies the optimal contract offered by a risk-neutral principal to a riskaverse agent when the…
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We use the German Socio Economic Panel to analyze the impact of life changing events on individuals’…
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In the literature risk aversion has been widely studied by many scholars. However, little research is done…
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Previous research has shown that an individual’s risk attitude has a significant impact on his or her…
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The current study uses the German Socio Economic Panel to examine how the financial crisis of 2008-2010…
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This article estimates the coefficient of relative risk aversion for 75 countries using data on self-reports of…
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Most decisions concerning (self-)insurance and self-protection have to be taken in situations in which a) the effort…
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This paper describes the results of a web‐based multi‐period insurance purchasing experiment focusing on how individuals make…
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Risk-aversion has generally been found to decrease in income. This may lead one to expect that poor…
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Expected utility functions are limited to second-order (conditional) risk aversion, while non-expected utility functions can exhibit either…
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Despite the evidence on incomplete financial markets and substantial risk being borne by innovators, current models of…
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We consider the class of concave distortion risk measures to study how choice is influenced by the…
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This paper studies the effect of risk aversion on effort under different monitoring schemes. It uses a…
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We examine a Japanese Panel Survey in order to verify whether self-reported risk aversion varies over time.…
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We consider decision-makers facing a risky wealth prospect. The probability distribution depends on pecuniary effort, e.g., the…
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The paper clarifies the link between changes in risk aversion and the effect on the consumption discount…
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This contribution investigates the role played by risk attitudes on insurance demand and challenges the preconception that…
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We use a repeated survey of a large sample of clients of an Italian bank to measure…
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This paper studies the effect of increased risk aversion on self-insurance and self-protection in a two-period expected…
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This paper defines the rate of substitution of one stochastic change to a random variable for another.…
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The standard model of intertemporal choice assumes risk neutrality toward the length of life: due to additivity,…
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In this paper we analyse the risk attitude of a group of heterogenous agents and we develop…
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We investigate whether the set of Kreps and Porteus (1978) preferences include classes of preferences that are…
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Using a laboratory experiment in which the unlimited liability treatment involves real out-of-pocket losses, we investigate and…
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Risk attitudes other than risk aversion (e.g. prudence and temperance) are becoming important both in theoretical and…
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Various experimental procedures aimed at measuring individual risk aversion involve a list of pairs of alternative prospects.…
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Building Risk-Neutral Densities (RND) from options data can provide market-implied expectations about the future behavior of a…
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This paper suggests a new explanation for the low level of annuitization, which is valid even if…
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We estimate the risk attitudes of a large sample of small-scale fishers from various fishing communities along…
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In this article we analyze the risk attitude of a group of heterogeneous agents and we develop…
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We use data on households' deductible choices in auto and home insurance to estimate a structural model…
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