We analyze the link between pessimism and risk-aversion. We consider a model of partially revealing, competitive … rational expectations equilibrium with diverse information, in which the distribution of risk-aversion across individuals is … unknown. We show that when a high individual level of risk-aversion is taken as a signal for a high average level of risk …

women. Women are mainly influenced by their degree of risk aversion, but men are not. Men compete more against men than …

behavior of potentially risk-averter policy-makers in a controlled dynamic stochastic environment. Work remains to be done in …

According to theoretical models of valuing risky corporate securities, risk of default is primary component in overall … yield spread. However, sizable empirical literature considers it otherwise by giving more importance to non-default risk … the subjective empirical treatment of default risk. By using post-hoc estimator approach of Lubotsky & Wittenberg (2006 …

"subjective" risk for "objective" risk à la Rothschild and Stiglitz (1970). A weakened independence axiom may them be set over … opposite to a convex measure of risk (Föllmer and Schied 2002). It may be viewed as a theoretical justification for choosing … this measure of risk. …

Although it is endowed with many interesting properties, the theory of decision-making under risk by Loomes and Sugden … are risk averse or risk prone, (b) risk is defined in a consistent way with risk aversion, (c) the functional is but the … opposite to a convex measure of risk (Föllmer ans Schied [2002]) when constant marginal utility is assumed and (d) violations …

This study investigates the influence of background diversity of bank board members on performance and risk. Using data … associated with performance except when it relates to ethnicity. It not only reduces performance per se but also increases risk …. Female presence and professional diversity reduce risk but nationality and ethnicity diversities are associated with higher …

non-zero risk levels. Some contemporary European societies tolerate about one fatality per thousand year around industrial …

-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 …