Kimball [1990] developps a theory of prudence isomorphic to Pratt [1964] and Arrow [1965] theory of risk aversion …. Nevertheless, if the Arrow-Pratt risk aversion index determines behavior in risk, it is not always the case for prudence. Moreover … prudence attitude strongly depends on risk aversion. …

This paper studies the aggregate implications of microeconomic investment irreversibility and idiosyncratic uncertainty …

for trade such that given standard assumptions about behavior under uncertainty, the equilibrium allocation would …

This paper explores the consequences of non-additive expected utility on risk-sharing and equilibrium in a general … equilibrium set-up. We establish that convexity of an agent's preferences (or strong uncertainty aversion) is equivalent to the … convexity of his capacity and concavity of his utility index. We also characterize a weaker form of uncertainty aversion. …

develop a model that incorporates the central features of Kinckerbocker's story -oligopoly, uncertainty, and risk aversion- to …

follow the decision theory approach and show that if positivity of the bid-ask spread is identified with strong risk aversion …

develop a model that incorporates the central features of Knickerbocker's stroy - oligopoly, uncertainty, and risk aversion …

functions only depend on their individual state; but there exists one good for which some aggregate component of the risk is …

papers. All exosting axiomatizations, however, only consider decision under uncertainty, and no axiomatization has as yet … been provided for decision under risk. Providing the latter is the purpose of this note. The axiomatization is considerably … simpler than those for uncertainty. …