We report results from an experiment that contrasts preferences toward the risk of what may happen (outcome risk preferences) with preferences toward the risk of when something may happen (time or delay risk preferences). Just as choices over monetary risks identify utility independently from...

This paper collects results on the repeated risk-taking of skewed risks. An extensive body of theoretical and experimental literature has shown that, in one-time decision situations, humans are skewness-seeking and dislike risks that feature unlikely but large losses (i.e., negatively skewed...

Risk aversion — but also the higher-order risk preferences of prudence and temperance — are fundamental concepts in the study of economic decision making. We propose a method to jointly measure the intensity of risk aversion, prudence, and temperance. Our theoretical approach is to define...

We measure risk preferences for decisions that involve more than a single monetary attribute. According to theory, the multivariate risk preferences correlation aversion, cross-prudence (coskewness preference) and cross-temperance (cokurtosis aversion) determine how univariate risk preferences...

Der "Dialog KlimaAnpassung - Leben im Klimawandel gemeinsam meistern" richtete sich sowohl an Stakeholder als auch an Bürger*innen. Ziel des Beteiligungsprozesses war es, die Entwicklung messbarer Ziele der Klimaanpassung und insgesamt die Weiterentwicklung der Deutschen Anpassungsstrategie hin...

Skewness preferences—preferences toward low-probability, high-impact risks—are crucial determinants of economic behavior. This paper defines first- and higher-order skewness preferences and shows that the order of skewness preference captures the importance of skewness relative to mean and...