individuals are found to be more risk averse, in agreement with common findings. Unlike previous studies that ascribed gender … differences in risk attitudes solely to differences in the degree utility curvature, however, our results show that this finding …

Risk aversion (a 2nd order risk preference) is a time-proven concept in economic models of choice under risk. More … recently, the higher order risk preferences of prudence (3rd order) and temperance (4th order) also have been shown to be quite … important. While a majority of the population seems to exhibit both risk aversion and such higher-order risk preferences, a …

This paper examines the measurement of social welfare, poverty and inequality taking into account reference …-dependence, loss aversion and diminishing sensitivity—aspects emphasized in Prospect Theory—to social welfare measurement. We suggest a …

risk increases with the initial level of risk. Their reasoning is based on differences in the marginal utility of wealth …: first, for a risk-averse individual without a bequest motive, marginal WTP for survival does increase with the level of risk … initial risk on WTP for survival is reversed: the higher initial risk the lower the value of a statistical life. …

estimate of risk aversion and the time preference discount rate per individual. This can be done because the consumption of a … they are moderately negatively correlated. Furthermore we explain the estimated relative risk aversion and time preference … risk aversion in a simple model where time discounting is ignored, we find completely different estimates for this …

a richer risk attitude than that captured in the standard discounted expected utility model. I derive three models that … permit a more comprehensive risk evaluation. These preference representations differ regarding the consistency requirements …

This study explores people’s risk attitudes after having suffered large real-world losses following a natural disaster … is consistent with prospect theory predictions of the adoption of a risk-seeking attitude after a loss. …