represented by the decrease in entropy of his beliefs, regardless of his preferences, initial wealth, or investment problem. We …

in investment and in the current account, in line with em- pirical evidence, only if the traded sector is more capital …

This chapter of a collective book aims at presenting the basics of decision making under risk. We first define notions … of risk and increasing risk and recall definitions and classifications (that are valid independently of any … representation) of behavior under risk. We then review the classical model of expected utility due to von Neumann and Morgenstern …

The theory of existence of equilibrium with short-selling is reconsidered under risk and ambiguity modelled by risk … of the risk adjusted sets of expectations overlap. This condition is necessary if agents are not risk neutral at extreme … compatible trades, with non negative expected value with respect to any risk adjusted prior, strictly positive for some agent and …

, which allow to take into account observed behaviors as in Allais' paradox under risk or Ellsberg's paradox under uncertainty … uncertainty, and Quiggin and Yaari under risk, succeeded to characterize preferences which generalize the EU model, by means of a … for more diversified patterns of behavior under uncertainty as well under risk. …

risk. Only inflation impacts all types of risky debt, underscoring the overarching importance of monetary credibility to …, with a short maturity or indexed. It analyses empirically the determinants of these risk sources separately, developing a …

An unfunded Social Security system faces the major risk, sometimes referred to as "political risk", that future … generations modify or even suppress the contributions. In order to account properly for this risk, the paper considers a political … the economy. The impact of various factors -intra-generational redistribution, risk aversion, financial markets …

-agricultural sector is considered as a risk-mitigating strategy by rural Pakistani households. This issue has already been addressed but … whether ex ante engagement in the non-agricultural sector is partly motivated by a desire to mitigate risk. The main feature …