-by-minute trading observations from over 864,000 price realizations in a natural field experiment, we find data patterns consonant with …

-by-minute trading observations from over 864,000 price realizations in a natural field experiment, we find data patterns consonant with …

comparably low returns and high risk has become known as the private equity premium puzzle. This paper provides evidence … supporting the hypothesis that lower risk aversion of entrepreneurs, and not necessarily credit constraints, may explain this … portfolios and experimentally validated risk attitudes. The results show that both the ownership probability and the conditional …

equity ; investment ; risk aversion … comparably low returns and high risk has become known as the private equity premium puzzle. This paper provides evidence … supporting the hypothesis that lower risk aversion of entrepreneurs, and not necessarily credit constraints, may explain this …

1. Introduction -- 2. Risk and Risk Perception: Why we are not Rational in the Face of Risk -- 3. Expected Utility … how Information is presented -- 6. Emotions and Zero Risk Bias: Why we make bad Decisions and overspend on Risk Avoidance …We as humans are prone to a variety of wired-in cognitive mistakes in the way we interpret and react to risk …

Assuming the loss aversion framework of Tversky and Kahneman (1992), stochastic investment and labour income processes …, and a path-dependent fund target, we show that the optimal investment strategy for defined contribution pension plan … target and is decreased if it is above. However, if the fund is sufficiently above target, the optimal investment strategy …

with individual VaR delivers an optimal wealth assignment between risky and risk-free assets …