Neumann-Morgenstern expected utility functions using cooperative game theory. The social network literature studies various … ordinary risk . We show that this leads to a class of centrality measures that is fully determined by the degrees (i.e. the … numbers of neighbours) of the positions in a network. Although this allows for externalities, in the sense that the …

bubbles. We consider a setting where participants sorted according to their degree of risk aversion trade in experimental … asset markets. We show that risk sorting is able to explain bubbles partially: Markets with the most risk-tolerant traders … exhibit larger bubbles than markets with the most risk averse traders. In our study risk aversion does not correlate with …

This study investigates the optimal nature of law making under uncertainty. I focus on a case in which a harmful … and costs of precaution are ex-ante uncertain, and this places a risk burden on both injurers and victims. The optimal … policy should, at the same time, strike a balance between benefits and costs of the measures, and attenuate the ex-ante risk …