uniform. We analyze how climate risks could be reduced via an insurance scheme at the global scale across regions and quantify … Models (IAMs), which assumes no risk sharing across region, we introduce global risk sharing via a market for state … across regions. We estimate that such risk sharing scheme of climate risks could lead to welfare gains reducing the global …

The paper clarifies the link between changes in risk aversion and the effect on the consumption discount rate. In a … rate to a change in risk aversion depends on some fundamental properties of the considered uncertainties. The application … of this general result to specific forms of uncertainty extends existing results to more general forms of risk and yields …

introduction of extra convexity and the separation between risk-aversion and time-preference implies that, independently of the …

The risk of losses of income and productive means due to adverse weather associated to climate change can significantly … levels of risk, under measurable and unmeasurable uncertainty. Moreover, the costs associated to investments in reduced …, climatic event, we expected to observe, and found high levels of risk aversion, but we do observe farmers making trade …

risk of an oil spill. The proposed methodology differs from the traditional approach in three respects: it allows for risk … methodology, we apply it to the hypothetical (yet realistic) case of an oil spill in the Aegean Sea. We assess the risk premiums … that potentially affected individuals would be willing to pay in order to avoid losses to economic activities such as …

We use perturbation analysis to study independent private-value all-pay auctions with weakly risk-averse buyers. We … show that under weak risk aversion: 1) Buyers with low values bid lower and buyers with high values bid higher than they … would bid in the risk neutral case. 2) Buyers with low values bid lower and buyers with high values bid higher than they …

: financial risk and environmental risk. The analysis is carried out using time series data for six advanced economies in the … period 1965-2007. The results support the theoretical conclusions that both financial risk alone and the interaction between … empirical analysis performed with one-argument utility functions. Finally, we provide new estimates of indexes of relative risk …

significantly influence consumption dynamics. Our estimates of the indexes of relative risk aversion and relative prudence, as well …