investment can also be attained by spot contracts. We replicate such a situation with our experimental design based on a simple … two period game, involving the choke of the contract; length by the principal and an investment choke by the agent. In … contrast to the game theoretic predictions, we find that investment of the worker and length of contract; are strictly …

We introduce the notion of a convex measure of risk, an extension of the concept of a coherent risk measure defined in … the underlying space of scenarios. As a case study, we consider convex measures of risk defined in terms of a robust not … ion of bounded shortfall risk. In the context of a financial market model, it turns out that the representation theorem is …

This paper presents a general theory that works out the relation between coherent risk measures, valuation bounds, and … preferences, in the way many coherent risk measures are somewhat generic. -- coherent risk rneasures ; valuation bounds …