individual’s equity market participation and risk aversion. Moreover, the molecular genetic endowments predict individuals … links between financial choices, risk aversion, beliefs, and other variables known to explain stock market participation …

share can fall in response to an increase in wealth, even though the model implies decreasing relative risk aversion …

We investigate whether individuals' experiences of macro-economic outcomes have long-term effects on their risk … lower willingness to take financial risk, are less likely to participate in the stock market, and, conditional on …

willingness to bear risk, relative to his peers, across different contexts. We do so by examining the same individuals' decisions …-general component of risk preferences …

In this paper we: (i) provide a model of the endogenous risk intolerance and severe aggregate demand contractions … addressing these contractions. The key mechanism stems from heterogeneous risk tolerance: as a recessionary shock hits the … economy and brings down asset prices, risk-tolerant agents' wealth share declines and their leverage rises endogenously. This …

skill and, as a consequence, increasing risk taking. Although past performance does not predict future success for these …

focuses on the micro-foundations of information acquisition and the role of human capital in asset, or risk, management. We …