We investigate the unexplored link between the risk of poverty and happiness in the context of a developing country. Using unique longitudinal data, we estimate workers' vulnerability to income-poverty and find a strong negative relationship between vulnerability and happiness, over and above a...

The value of a statistical life (VSL) monetizes the expected loss in well-being associated with the risk of death. The utility loss resulting from a fatality is central to the empirical framework for estimating the VSL. The VSL trajectory over the life cycle exhibits an inverted-U shape,...

In the first paper we give a holistic overview and comparison of all risk elicitation methods used today, and recommend that a derivation of Holt and Laury’s (2002) well-known method, where the high payoff instead of the probabilites are varied, should be used as it emerges as the best method...