A man is a key subject of economics. “A man is irrational” - this opinion can be made from Allais paradox, risk …

between pessimism (resp. doubt) and risk-tolerance. Under reasonable assumptions, beliefs exhibit a pessimistic bias and, as a … consequence, the risk premium is higher than in a standard setting. …

correlation between pessimism (respectively doubt) and risk tolerance. Under reasonable assumptions, beliefs exhibit a pessimistic … bias and, as a consequence, the risk premium is higher than in a standard setting. …

euro area. We fo cus on the role of cyclic al behaviour of public spending and sovereign risk premium. Pro-cyclical primary …

This article analyses the impact of oil price on bond risk premiums issued by emerging economies. No empirical study … has yet focussed on the effects of the oil price on government bond risk premiums. We develop a model of credit spread … on each country. Then we use a panel analysis to determine the global impact of oil prices on the risk perceptions of …

"subjective" risk for "objective" risk à la Rothschild and Stiglitz (1970). A weakened independence axiom may them be set over … comparable prospects, i.e. those which exhibit the same canonical expected utility. This leads to a fully choice-based theory of … opposite to a convex measure of risk (Föllmer and Schied 2002). It may be viewed as a theoretical justification for choosing …

Although it is endowed with many interesting properties, the theory of decision-making under risk by Loomes and Sugden … are risk averse or risk prone, (b) risk is defined in a consistent way with risk aversion, (c) the functional is but the … opposite to a convex measure of risk (Föllmer ans Schied [2002]) when constant marginal utility is assumed and (d) violations …

. In this article, we show that this sufficient condition, namely decreasing absolute risk aversion (DARA) is in fact …

(rep. doubt) and risk-tolerance. We analyse the equilibrium characteristics. Under reasonable assumptions, the consensus … belief is pessimistic and, as a consequence, the risk premium is higher than in a standard setting. …

This article analyses the impact of oil price on bond risk premiums issued by emerging economies. No empirical study … has yet focussed on the effects of the oil price on government bond risk premiums. We develop a model of credit spread … on each country. Then we use a panel analysis to determine the global impact of oil prices on the risk perceptions of …