-34 -- Ernst Fehr and Georg Kirchsteiger (1994), 'Insider Power, Wage Discrimination and Fairness', Economic Journal, 104 (424 … (2004), 'Fairness and Inflation Persistence', Journal of the European Economic Association, 2 (2-3), April-May, 240 …, D. and Tversky, A. (1979), 'Prospect theory: An analysis of decision under risk', Econometrica, 46, 263-91. -- Keynes, J …

participants, our framework studies security repurchase agreements between risk-averse borrowers and lenders. In this manner, repo … agreements are part of an efficient risk-sharing arrangement. In turn, properties of the agreements depend on environmental … conditions such as the degree of risk aversion, default risk, and the market value of collateral. Previous work based upon risk …

This paper investigates whether multivariate crash risk is priced in the cross- section of expected stock returns …. Motivated by a theoretical asset pricing model, we capture the multivariate crash risk of a stock by a combined measure based on …. We find that stocks with a high exposure to joint crashes of the market and the momentum factor bear a risk premium which …