can generate systematic biases in revealed preference measures such as spurious risk aversion. These effects are very …

Financial Crisis was associated with an increase in both risk aversion and ambiguity aversion, while the Dot-com Crisis only … affected risk aversion. …

Although risk aversion has been used in economic models for over 275 years, the past few decades have shown how higher … order risk attitudes are also quite important. A behavioral approach to defining such risk attitudes was developed by … lattices can be extended in order to develop a better understanding of higher order risk attitudes. …

the intuition that risk exposure is detrimental, we show that residual claimants are able to extract a risk premium, which … is increasing in risk exposure. In some cases the premium is so high that it is advantageous to bargain over a risky pie … rather than a risk-less pie. Contrary to theory, the comparatively less risk adverse residual claimants benefit the most …

regularities by developing a new firmbased trade model wherein managers are risk averse. Higher volatility induces the reallocation …

explain a set of behavioral anomalies identified across four distinct domains of decision-making: choice under risk, choice … risk and ambiguity, belief updating, and survey expectations. Our framework makes predictions that we test using exogenous …