Risk and time are intertwined. The present is known while the future is inherently risky. Discounted expected utility …

different amounts of loan because of differences in their time or risk preferences (types). Thus, the unconditional probability …

whether such income fluctuations affect risk preference among the poor. If risk preference temporarily changes around payday … Security payday cycles in the US, we find that risk preference among the poor relying heavily on Social Security changes around …

Survey (GPS), an experimentally validated survey dataset of time preference, risk preference, positive and negative … between preferences and bio-geographic and cultural variables such as agricultural suitability, language structure, and …

idea: the market's ability to bear risk varies over time, larger in good times, and less in bad times. Models achieve this …-finance models may illuminate macroeconomics, by putting time-varying risk aversion, risk-bearing capacity, and precautionary savings …

Chinese subjects in our experiments became less accepting of Confucian values, such that they became significantly more risk …

Though risk aversion and the elasticity of intertemporal substitution have been the subjects of careful scrutiny when … temporal resolution of risk matters and a quantitative assessment of how much it matters should be part of the calibration … of risk into the discussion of the quantitative properties of long-run risks and related models …

, yielding an equivalent economy whose agents differ merely in risk aversion. These results hold great potential to simplify the …Movements in asset prices are a major risk confronting individuals. This paper establishes new asset pricing results … when agents differ in risk preference, time preference and/or expectations. It shows that risk tolerance is a critical …

We propose a new method to test for efficient risk pooling that allows for intertemporal smoothing, non …-homothetic consumption, and heterogeneous risk and time preferences. The method is composed of three steps. The first one allows for … precautionary savings by the aggregate risk pooling group. The second utilizes the inverse Engel curve to estimate good …