risk averse, asset markets large, and variance-mean ratios of asset returns high in fully revealing rational expectations …

Under conditions of risk it makes a difference whether the discount rate is determined as an expected present or as an …

We study risk attitudes, ambiguity attitudes, and time preferences of 661 children and adolescents, aged ten to … mass index, are less likely to save money and show worse conduct at school. Experimental measures for risk and ambiguity …

This paper considers how optimal education and tax policy depends on the risk properties of human capital. It is … demonstrated that a key feature of human capital investments is whether they increase or decrease wage risk. In a benchmark model …

, the usual asymmetry in evaluation by sellers and buyers is observed. An econometric estimation sheds new light on its …

explore the design of policy. The model highlights the critical roles played by (i) the relationship between behavioural risk … preferences, standard risk aversion and labour supply behaviour, (ii) the risk properties of education, and (iii) the degree of …

We introduce a simple, easy to implement instrument for jointly eliciting risk and ambiguity attitudes. Using this … significantly overstated when risk neutrality is assumed. This highlights the interplay between risk and ambiguity attitudes as well … as the importance of joint estimation. In addition, over our stakes levels we find no difference in the estimated …

We define a class of risk-taking-neutral (RTN) background risks. These background risks have the property that they … will not alter decisions made with respect to another risk, for individuals with HARA utility. If we wish to compare a … decision made with and without some exogenous background risk, it is often easier to compare the decision made to one made with …