The preferred risk habitat hypothesis, introduced here, is that individual investors select stocks with volatilities … commensurate with their risk aversion; more risk-averse individuals pick lower-volatility stocks. The investors' portfolio … stocks are sold they are replaced by stocks of similar volatilities, and the more risk averse customers indeed hold less …

In this paper, we study the determinants of the value of informal risk sharing groups. In particular, we look at the … if individuals can deviate form risk sharing agreements in coalitions or not. We test empirically several predictable … size of risk sharing groups can be rejected or that only imperfect risk sharing is obtained within the village because of …

of stock prices as predictors of future dividends. This paper analyses the relationship between market size and risk as …

tenure choice by explicitly accounting for ethnic identity as a potential influence on the homeownership decision, using a … suggests that immigrants with a stronger commitment to the host country are more likely to achieve homeownership for a given …

are likely to modify students' risk-taking preferences in economically important ways. To test this, we designed a … expected monetary value than the alternative outcome with a certain payoff - and in which the sensitivity of observed risk … preferences for risk-taking are indeed sensitive to whether the girl attends a single-sex or coed school. Girls from single …

We model the impact credit constraints and market risk have on the vertical relationships between firms in the supply … chain. Firms which might face credit constraints in future investments become endogenously risk averse when accumulating … pledgable income. In the short run, the optimal supply contract therefore involves risk sharing, thereby inducing double …

on some characteristics observed by the student, under the combined risks affecting future wages and schooling duration …. Assuming that students' attitudes toward risk can be represented by a CRRA utility, we show that the risk-aversion parameter … levels. Estimation can be performed by means of classic Maximum Likelihood methods. The model can easily be compared with a …