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 …

We use measures of neural activity provided by functional magnetic resonance imaging (fMRI) to test the "realization …

, the model generates term structures for any portfolio of stocks (e.g., small and value portfolios, high and low investment …

framework to solve jointly for investment and information choices, with a variety of preferences and information cost functions …

technology. We use a field experiment with two stages of randomization to generate exogenous variation in the payoffs associated …

This essay reviews the family of models that seek to provide aggregate risk based explanations for the empirically …

experiment, face-to-face communication with a randomly assigned peer significantly improves the quality of private decisions …

We test the relation between ambiguity aversion and five household portfolio choice puzzles: non- participation, low …

risk associated with holding investible securities. Consistent with this fact: 1) the average effect of the reduction in … systematic risk is 3.4 percentage points, or roughly one third of the total effect; and 2) variation in the firm …-specific response is directly proportional to the firm-specific change in systematic risk. The statistical significance of this …