high ratio of lateral entrants. We enrich the analysis of training and education decision-making processes with a third …

One of the standard predictions of the agency theory is that more incentives can be given to agents with lower risk … obtain that lower agent’s risk aversion unambiguously leads to higher incentives when the technology function linking … efficiency and riskiness is elastic, while the risk aversion–incentive relationship can be positive when this function is rigid. …

An investor's choice between safe and risky assets has long been seen as a behavior toward risk: more risk … that show, in a very general setting, that the choice between work effort and leisure under given linear incentives depends … on how the attendant financial risk interacts with effort. We find that if the risk multiplies with effort, risk …