negatively related to basis risk, to quantity risk, and to transaction costs. Farmers who have less uncertainty about prices have … incentive to hedge can be greatly reduced. And finally, farmers who have low levels of risk aversion have little to gain from … hedging in terms of risk reduction, in that the certainty equivalent payoff at their optimal hedge may be little different to …

Traditional inventory models focus on risk-neutral decision makers, i.e., characterizing replenishment strategies that … propose a framework for incorporating risk aversion in multi-period inventory models as well as multi-period models that … coordinate inventory and pricing strategies. In each case, we characterize the optimal policy for various measures of risk that …

This paper investigates the role of currency denomination in the the intertemporal risk-return relation among G7 … country-specific risks. Different from the literature, however, we find that the intertemporal risk-return relation differ …

significantly in the current crisis, and investors have become aware of the possible consequences of being exposed to credit risk … takes into account the investor's personal risk aversion and which is not affected by the lack of liquidity. Through … CDS spreads. In the first part we examine how these quantities are affected by risk aversion under different models of …

that affect the portfolio allocation decision. The first essay entitled, “Are women more risk-averse than men?” examines … the gender difference in risk aversion as revealed by actual investment choices. Using a sample that controls for biases …, irrespective of their knowledge of finance, women are no more risk-averse than their male counterparts. However, the gender-risk …

This dissertation contains three essays on risk aversion. In the first essay, we an-alyze comparative risk aversion in …-order increases in risk lead to higher-order generalizations, and the com-parative statics method yields a unified approach to the … risk neutral, the terrorists' response is notassociated with the government's action and the representative citizen's risk …

life decisionsare dependent on one's risk tolerance. The role of risk preferences in such choices isnot fully understood …, largely because relative risk aversion (y) is hard to empiricallyquantify. Chetty (2006) derives a formula for ° based on the …

. Risk averse behavior is usually described by concave utility function and considered to be a cornerstone of classical … from DAX German market, were found to be non-monotone decreasing. These findings show that agents have not always risk …

This paper examines the effects of risk aversion on compliance choices in markets for pollution control. A firm …’s decision to be compliant or not is independent of its manager’s risk preference. However, noncompliant firms with risk averse … managers will have lower violations than otherwise identical firms with risk neutral managers. The violations of noncompliant …

-transactions. These premia are credit spreads on top of the risk free interest rate and compensate investors for the expected annualized … default loss and for the risk of default losses. Focusing on the second component, the pure risk aversion premium, the paper … estimates the relative risk aversion (RRA) implied by the credit spreads and the loss distributions of 215 differently rated …