This chapter of a collective book aims at presenting the basics of decision making under risk. We first define notions … of risk and increasing risk and recall definitions and classifications (that are valid independently of any … representation) of behavior under risk. We then review the classical model of expected utility due to von Neumann and Morgenstern …

This paper deals with the forest owner's attitude towards risk and the harvesting decision in several ways. First, we … propose to characterize and quantify the forest owner's attitude towards risk. Second, we analyze the determinants of the … forest owner's risk attitude. Finally, we determine the impact of the forest owner's risk attitude on the harvesting decision …

This paper aims to provide the first evidence concerning the relationship between time and risk preferences and illegal … urban Senegal, we evaluate a measure of time and risk preferences through the individual's intertemporal discount rate and … coefficient of absolute risk aversion. Remarkably, our results show that these individual preferences matter in the willingness to …

This paper deals with the forest owner's attitude towards risk and the harvesting decision in several ways. First, we … propose to characterize and quantify the forest owner's attitude towards risk. Second, we analyze the determinants of the … forest owner's risk attitude. Finally, we determine the impact of the forest owner's risk attitude on the harvesting decision …

The existing literature on credence goods and expert services has overlooked the importance of risk aversion. In this … paper we extend a standard expert model of credence goods with verifiable service quality by considering risk …-averse consumers. Our results show that the presence of risk aversion reduces the expert's incentive to invest in diagnosis and may …

The classical expected utility model of decision under risk (von Neumann-Morgenstern, 1944) has been criticized from an … could dislike risk (prefer to any lottery its expectation) without necessarily avoiding any increase in risk ; diminishing … marginal utility may coexists with "weak" risk seeking attitudes ; decision makers with the same utility function may differ in …

We report in this paper the result of three experiments on risk, ambiguity and time attitude. The first two differed by … elicitation of risk, time and ambiguity attitudes and the relationship among these (model free) measures. We find that on the … cautions manner in the risk and ambiguity domain. When we drop this population from the sample, the correlation between our …

correlation from the DELTA-TNS 2002 cross-sectional survey. While income risk does not deter from the stockmarket those households …

preference parameters : the risk "attitude" (aversion, prudence...), the rate of time depreciation over the life-cycle, the …

between two preference parameters : γ, which represents risk attitudes (aversion, prudence...), and δ, the rate of time …