parameters' such as loss aversion and present-bias; 'structural factors' such as variation in the timing of uncertainty; the …

first-order approximated solution built by perturbation methods accounts for risk. We show that risk matters economically in … a real business cycle (RBC) model with habit formation and capital adjustment costs and that neglecting risk leads to …

In this paper we use an experiment to compare a theory of risk aversion and a theory of spite as an explanation for … overbidding in auctions. As a workhorse we use the second-price all-pay and the first-price winner-pay auction. Both risk and … spite can be used to rationalize deviations from risk neutral equilibrium bids in auctions. We exploit that equilibrium …

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 … Eeckhoudt and Schlesinger (2006), based upon simple lottery preference. This article show how the mathematics of lattice theory …

intergenerational inequality aversion and for risk aversion. If growth increases (reduces) intra-generational inequality, the SDR is …

low display more tolerance towards risk in a subsequent incentivized lottery task. This effect is mainly driven by … individuals who more firmly believe that life outcomes are beyond their control. This interaction between risk preferences and …

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

circulation model. It also features Epstein-Zin utility and uncertainty about climate sensitivity that resolves after some time …Common integrated assessment models produce the counterintuitive result that higher risk aversion does not lead to …. The simulations show that aversion to this tipping point risk has little effect. For climate sensitivity of realistic …

-form expressions of welfare loss from shocks and epistemological uncertainty identify the interaction of (intertemporal) risk attitude … is comparable to numeric models used in policy advising. Uncertainty surrounding climate change remains large. The closed …, distributional moments, and the climatic shadow values. Welfare gains from reducing uncertainty about temperature feedbacks are much …