The paper reports the result of an experimental game on asset integration and risk taking. We find evidence that … winnings in earlier rounds affect risk taking in subsequent rounds, but no evidence that real life wealth outside the … experiment affects risk taking. We find some evidence of imitation of the risk taking behavior of others that is distinct from …

between risk and uncertainty is implemented by applying the Gilboa-Schmeidler maxmin with multiple priors framework to lenders …

We analyse bidding behaviour in auctions when risk-averse buyers bid for a good whose value is risky. We show that when … risk in the valuations increases, DARA bidders will reduce their bids by more than the appropriate increase in the risk … marginal utility of income increases with risk, so buyers are reluctant to bid so highly. We also show that precautionary …

We endogenize the market risk (at given technical risk) in firms’ R&D decisions by introducing stochastic R&D in the … Hotelling model. It is shown that if the technical risk is sufficiently high, the market risk remains low even if firms pursue … similar projects. This leads firms to focus on the most valuable market segment. We then also endogenize technical risk by …

use our theory to interpret the introduction of the Direct Primary system in the USA at the beginning of the 20th century. …

This paper presents experimental evidence that when individuals are about to make a given decision under risk, they are …