Depression affects the way that people process information and make decisions, including those involving risk and … uncertainty. Our objective is to analyze the way that depressive episodes shape risk preferences and risk-taking behaviors. We are … the first to address this issue using large-scale, representative panel data that include both behavioral and stated risk …

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 …

We provide the first estimates of the impact of managers' risk preferences on their training allocation decisions. Our … conceptual framework links managers' risk preferences to firms' training decisions through the bonuses they expect to receive …. Risk-averse managers are expected to select workers with low turnover risk and invest in specific rather than general …