between risk and uncertainty is implemented by applying the Gilboa-Schmeidler maxmin with multiple priors framework to lenders …

Instrumental variable estimation requires untestable exclusion restrictions. With policy effects on individual outcomes …

Using a large sample of retail investors as well as experimental data we find that risk and ambiguity aversion are … positively correlated. We show the common link is decision style: intuitive thinkers tolerate more risk and ambiguity than … find that risk and ambiguity aversion vary with individual characteristics and wealth. The wealthy are less risk averse but …

averse to risk and ambiguity. The evidence is largely correlational, however, leaving open the question of the direction of … causality. In this paper, we present experimental evidence of causation running from reliance on intuition to risk and ambiguity … lowers the probability of being ambiguity averse by 30 percentage points and increases risk tolerance by about 30 percent in …

This Paper analyses the effect of dynamic capital structure adjustments on credit risk. Firms may optimally adjust … find that the underestimation of credit spreads and expected default frequencies is exacerbated when the risk … it is shown that the Value-at-Risk of corporate bonds increases with the distance to default (DD) both for very low and …