We analyze workers' risk preferences and training investments. Our conceptual framework differentiates between the … investment risk and insurance mechanisms underpinning training decisions. Investment risk leads risk-averse workers to train less … demonstrate that risk affinity is associated with more training, implying that, on average, investment risks dominate the …

The perception of risk affects how people behave during crises. We conduct a series of experiments to explore how … people form COVID-19 mortality risk beliefs and the implications for prosocial behavior. We first document that people … overestimate their own risk and that of young people, while underestimating the risk old people face. We show that the availability …

We report on a laboratory experiment testing for the presence of loss aversion, as separate from risk aversion … loss by experimental participants. Our experimental design augments the Holt-Laury risk preference elicitation methodology … additional reluctance to participate in a mixed domain lottery beyond that predicted by risk aversion. We show that only …