We report a portfolio-choice experiment that enables us to estimate parametric models of ambiguity aversion at the … specification includes two parameters: one for ambiguity attitudes and another for risk attitudes. We also estimate a three …

principles of Expected Utility Theory (EUT) and of Portfolio Selection Theory (PST). The experiment is performed with individuals … a team decision algorithm, excess-risk vetoing, that combines simple majority voting with the right to veto alternatives … providing additional risk that is not compensated by additional expected value. We find that the results of our experiment are …

We consider a standard one-agent decision-making problem under risk and we address the following question: under what … conditions is utility maximization equivalent to 'risk' minimization, where the measure of risk used by the decision-maker is a … conservative coherent risk measure? …

investor personae in the Behavioral Finance literature, namely, the Cumulative Prospect Theory, the Markowitz and the Loss … attractive attracted under risk conditions. …

A risky choice experiment is based on one-dimensional choice variables and risk neutrality induced via binary lottery …

reduction (self-protection) so that correlation becomes endogenous. If prevention concerns only one risk, introducing a second … exogenous risk increases the level of prevention expenditures, even if correlation is negative. If prevention expenditures may … increased dependence increases aggregate prevention expenditures, but not necessarily prevention expenditures for each risk due …

maxmin decision-maker equipped with such belief dynamics prefers, under prevalent conditions, a bet in an ambiguous urn over …

coefficient of relative risk aversion (CRRA) that is commensurate with a 100% investment in the risky asset is simulated. The …