Search Results - subject_exact:"Risikoaversion"

Ambiguity-averse aggregation under heterogeneous beliefs

Norman, Thomas W. L. - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015594827

Meyerheim, Gerrit - 2026 - Original Version: October 2025, This Version: March 2026

This paper develops a tractable consumption-based asset-pricing model in an i.i.d. economy that combines rare consumption disasters with ambiguity aversion implemented as a one-period entropic tilt under CRRA utility. Closed-form expressions for the risk-free rate, equity return moments, and the...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015614347

Self-protection and self-insurance in pest management : the role of risk preferences and beliefs

Bougherara, Douadia; Nauges, Céline; Salanié, François; … - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015614466

Risk aversion, self-control, commitment savings device and benchmark-defined undersaving among nano enterprises in urban slums : a logistic regression approach

Osifodunrin, Edward A.; Lopes, José Dias - 2026

Low-income individuals are unlikely to save relatively large sums on a regular basis; however, many still fall short of even the modest threshold required for long-term financial security. This study examines the determinants of benchmark-defined undersaving among retail e-payment agents (REAs)...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015591438

Risk attitude and complex lotteries

Kim, Jeong Yeol; Castro, Luciano I. de; Galvao, Antonio … - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015615876

Time segmentation in tanker freight markets : the role of risk and relative freight rates in switching decisions

Kavussanos, Manolis G.; Moysiadou, Stergiani (Stella) A.; … - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015627067

Fat-tailed distribution under the smooth ambiguity model

Osei, Prince - 2026

We study the ambiguity-adjusted return distribution induced by an investor with smooth ambiguity preferences 'a la Klibano! et al. (2005), who faces uncertainty about the variance of asset returns. The variance uncertainty is modeled using a gamma distribution, a second-order prior over the...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015594918

Behavioral biases in investment decisions

Nahidi, Narmin - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015651180

Household preferences in an emerging economy : robust estimates of discount factor and coefficient of relative risk aversion for Pakistan

Ahmed, Waqas; Rehman, Muhammad; Iqbal, Javed; Sheraz, Sahar - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015586903

Numerical methods to value an option including risk aversion with a constant relative risk aversion function

Pareja-Vasseur, Julian A.; Marin-Sanchez, Freddy H.; … - 2026

This study develops a comprehensive discrete numerical model for option valuation that explicitly incorporates risk preferences, which may deviate from risk neutrality. Unlike the traditional binomial tree models - strictly under the risk-neutral paradigm - our framework embeds a constant...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015644841

A framework for decision making under deep uncertainty in hard-to-abate industries : an application case for investment in a German steel plant

Gaebelein-Khanra, Manish; Klobasa, Marian; Patil, Parag - 2026

Decarbonising hard-to-abate industries is necessary for climate goals, yet investment choices are hindered by deep uncertainty. This study develops an ambiguity-aware investment evaluation framework that accounts for parameter uncertainty, probability ambiguity, and downside risk. Scenario-level...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015674959

Symmetric expected utility

Preker, Jurek - 2026

We investigate and axiomatize preferences that display indifference between deterministic states, but exhibit strict orderings over lotteries over these states. Such preferences might be due to the ability to adopt to states, or a (dis)taste for uncertainty. We derive a representation theorem...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015588344

Investor heterogeneity in preferences for AI-based financial services : evidence from Japanese online investors

Nabeshima, Honoka; Kadoya, Yoshihiko - 2026

This study examines investor heterogeneity in relative priorities for AI-based financial services using a large-scale survey of Japanese online investors. We use data from the 2026 wave of the "Survey on Life and Money," administered by Rakuten Securities and Kadoya Lab at Hiroshima University....

Persistent link: https://ebvufind01.dmz1.zbw.eu/10016059302

Designing of an investment trust : theoretical foundations

Takata, Fujio - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015604924

Retirement under policy uncertainty

Bello, Piera; Galasso, Vincenzo; Izzo, Alessandro - 2026

This paper examines how policy uncertainty influences retirement decisions. We develop a simple model in which individuals face a one-time choice between immediate retirement and continued employment until the statutory retirement age. In the absence of policy uncertainty, retirement decisions...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015606282

Source theory : a tractable and positive ambiguity theory

Baillon, Aurélien; Bleichrodt, Han; Li, Chen; Wakker, … - 2025

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015547526

Assessing risk attitudes among physicians, medical students, and non-medical students with experimental data

Finocchiaro Castro, Massimo; Guccio, Calogero; Romeo, … - 2025

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015485686

Bounding risk aversion

Demuynck, Thomas; Hjertstrand, Per - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015637896

Looking for risk : volatility bounds in macro

Jung, Jiyong; Marin, Emile A. - 2026

We characterize the gap between the equity risk premium (ERP) and its SVIX-implied lower bound as an equilibrium object, increasing in the correlation of valuations and returns, their relative volatility, and risk aversion. Higher risk premia need not be reflected in options-implied volatility....

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015644373

Can reference-dependent loss aversion explain choice behaviour?

Puerta, Inmaculada R.; Pinto Prades, José Luis - 2025

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015485758

Equilibrium in the insurance chain under risk and ambiguity aversion

Lima, Luis Adrián - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015650822

Optimal payoffs under smooth ambiguity

Chen, An; Vanduffel, Steven; Wilke, Morten - 2025

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015085373

Global risk aversion and the term premium gap in emerging market economies

Flaccadoro, Marco; Villa, Stefania - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015561050

Risk attitudes towards on-demand insurance : an experimental study

Chang, Hsiao-Yin; Schmeiser, Hato - 2025

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015371452

Asymmetric fertility elasticities

Engle, Sam; Pang, Chong; Zhou, Anson - 2026

This paper develops a theory of fertility choice with loss aversion over consumption. Because children compete with consumption for household resources, loss-averse households cut fertility aggressively to protect living standards when adverse shocks push consumption below reference levels, but...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015666519

Determinants of economic risk preferences across adolescence

Zhang, Yubing; Camerer, Colin; Tashjian, Sarah M. - 2025

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015372175

Subjective probability distributions of nonlinear payoffs : Recovering option payoff, agent’s utility, and pricing kernel distributions

Yamazaki, Akira - 2025

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015372650

Decision flexibility, not information feedback, explains myopic loss aversion

Schwaiger, Rene; Strucks, Markus; Zeisberger, Stefan - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015668648

Global risk aversion : driving force of future real economic activity

Kim, Marco Jinhwan; Cho, Hoon; Ryu, Doojin - 2025

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015374079

Optimal long-term care provision and insurance with heterogeneous preferences and risks

Clavet, Nicholas-James; Michaud, Pierre-Carl; Navaux, Julien - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015668191

Risk aversion and credit access : solving financial exclusion through contract innovation

Ambler, Kate; Mohammed Mehrab Bin Bakhtiar; De Brauw, Alan - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015656859

Do risk preferences drive momentum in cryptocurrencies?

Proelss, Juliane; Schweizer, Denis; Buchwalter, Bastien - 2025

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015211092

Are women more risk averse? : A sequel

Giannikos, Christos; Korkou, Efstathia D. - 2025

This paper reexamines the question of gender differences in financial relative risk aversion using updated methods and data. Specifically, the paper revisits the 1998 work "Are women more risk averse?" by Jianakoplos and Bernasek, suggests refinements in their model in relation to the database...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015331238

Disliking to disagree : implications of disagreement aversion for information disclosure

Khalmetski, Kiryl; Thordal-Le Quement, Mark; Hoffmann, … - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015671500

Ambiguity and the value of late resolution of uncertainty

Kochov, Asen - 2026

The paper shows that in a dynamic setting with multiple sources of uncertainty, recursive ambiguity-averse preferences may imply a preference for late resolution of uncertainty. In particular, the simultaneous resolution of two sources can offer hedging benefits that are negated when one source...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015674931

High-dimensional multi-period portfolio allocation using deep reinforcement learning

Jiang, Yifu; Olmo, Jose; Atwi, Majed - 2025

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015333037

Optimal design of model-contingent insurance contracts

Riedel, Frank; Spengemann, Marco - 2026

We study optimal insurance design under linear transaction costs for a policyholder with smooth ambiguity preferences when the underlying loss distribution is identifiable ex post. Under expected utility, Arrow's classical theorem implies that the optimal contract is a straight deductible. Under...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015677183

How to deal with exchange rate risk in infrastructure and other long-lived projects

Castro, Luciano I. de; Frischtak, Cláudio R.; … - 2025

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015333874

Parameter estimation for DSGE models : Part II

Ädílhanova, Zarina - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015677304

The differential effects of personality traits and risk aversion on entrepreneurial intention following an entrepreneurship course

Tsaknis, Panagiots A.; Sahinidis, Alexandros G.; … - 2025

This paper addresses a research gap by examining how two groups of individuals with different personality traits (more entrepreneurial personalities versus less entrepreneurial personalities) react to changes in entrepreneurial intention after attending an entrepreneurship course. A key aspect...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015337377

Your gender identity is who you are : female chief executive officers and corporate debt structure

Huang, Yuxuan; Zhu, Qi; Yan, Cheng; Zeng, Yeqin - 2025

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015337887

Ambitious but risk averse : UK manager attitudes and the investment gap

Allas, Tera; Roper, Stephen - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015676376

Time-varying risk aversion and international stock returns

Guidolin, Massimo; Hansen, Erwin; Cabrera, Gabriel - 2025

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015338080

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Time-varying risk aversion and international stock returns

Guidolin, Massimo; Hansen, Erwin; Cabrera, Gabriel - 2023 - This version: August 2023

Edition: This version: August 2023

Book / Working Paper

First-price sealed-bid auctions with smoothly ambiguity-averse bidders

Riedel, Frank - 2026

We analyze first-price sealed-bid auctions with independent private values in which bidders are uncertain about the distribution of their opponents’ valuations and have smooth ambiguity preferences. We characterize the unique non- decreasing symmetric equilibrium, whose bidding function solves...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10016062595

Individual utilities of life satisfaction reveal inequality aversion unrelated to political alignment

Cooper, Crispin; Fredrich, Ana; Reggiani, Tommaso; … - 2026

How should well-being be prioritised in society, and what trade-offs are people willing to make between fairness and personal well-being? We investigate these questions using a stated preference experiment with a nationally quasi-representative UK sample (n = 300), in which participants...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10016063883

Econometrics of insurance with multidimensional types

Aryal, Gaurab; Perrigne, Isabelle; Vuong, Quang H.; … - 2025

In this paper, we address the identification and estimation of insurance models where insurees have private information about their risk and risk aversion. The model includes random damages and allows for several claims, while insurees choose from a finite number of coverages. We show that the...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015190336

Lotto lotteries : decision making under uncertainty when payoffs are unknown

Schröder, David - 2025

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015190618

Ambiguity and the variance of gambles

Whelan, Karl - 2025

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015475435

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Ambiguity and the variance of gambles

Whelan, Karl - 2025

Book / Working Paper

Ambiguity and the variance of gambles

Whelan, Karl - 2025

Book / Working Paper

Ambiguity and the variance of gambles

Whelan, Karl - 2025

Book / Working Paper

Portfolio choice with narrow framing and loss aversion : a simplified approach

Grant, Andrew; Kwon, Oh Kang; Satchell, Stephen - 2025

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015325202

Rare disasters, tail aversion, and asset pricing puzzles

Meyerheim, Gerrit - 2025

This paper integrates tail aversion, implemented via a one-period entropic tilt, with rare disasters in a consumption-based asset pricing model with CRRA utility to jointly address the equity premium and risk-free rate puzzles. The model delivers closed-form expressions for the risk-free rate...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015547439

Show 2 more versions 2

Rare disasters, tail aversion, and asset pricing puzzles

Meyerheim, Gerrit - 2025

Book / Working Paper

Rare disasters, tail aversion, and asset pricing puzzles

Meyerheim, Gerrit - 2025 - Original version: October 2025, this version: December 2025

Edition: Original version: October 2025, this version: December 2025

Book / Working Paper