Recent experimental studies suggest that risk aversion is negatively related to cognitive ability. In this paper we … population for our experiment. By presenting subjects with choice tasks that vary the bias induced by random choices, we are able … to generate both negative and positive correlations between risk aversion and cognitive ability. Structural estimation …

We study risk taking on behalf of others, both with and without potential losses. A large-scale incentivized experiment … others are more risky. Using structural estimation, we show that this increase in risk stems from a decrease in loss aversion …