the current principal prefers her future self to save more, she can increase current investments complementary to future … savings and decrease investments in the strategic substitutes, for example. To characterize the principalś choices they are … benefits from subsidizing investments in "green" capital (complementary to future savings) and tax investments in substitute …

find a quarter of students violated the order. Yet, neither risk preference, altruism, nor preexisting health conditions …

proposing a novel news media-based measure of climate change transition risk and show that when such risk is high, major …

social context affected risk-taking behavior. Remotely, pairs take far fewer risks when the stakes are high than in the flesh …

degree of pessimism of the representative agent is the mean of the individual ones weighted by their index of absolute risk …

theoretically expected, these effects are concentrated among those firms that view their investments as largely irreversible …

A large literature suggests that the expected equity risk premium is countercyclical. Using a variety of different … measures for this risk premium, we document that it also exhibits growth asymmetry, i.e. the risk premium rises sharply in … which agents cannot perfectly observe the state of current productivity, can generate the observed asymmetry in the risk …