correlation between pessimism (respectively doubt) and risk tolerance. Under reasonable assumptions, beliefs exhibit a pessimistic … bias and, as a consequence, the risk premium is higher than in a standard setting. …

`ex-ante' basis, with an empirical study of the link between expected return, risk, and liquidity in a sample consisting … for portfolios from both a univariate and a multivariate perspective. The paper shows how risk and liquidity premiums can … liquidity premiums together with risk premiums are useful in active asset management. …

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 …

is a risk tolerance weighted average of the individual beliefs, and the discount factor is proportional to beliefs … setting, and it is consistent with the interpretation of beliefs heterogeneity as a source of risk. We then use our … construction to rewrite in a simple way the equilibrium characteristics (market price of risk, risk premium, risk-free rate) in a …

to be understood by investors, because the uncertainties created by this universe compose the risk of real estate … investment. We suggest modelling risks across a sum of risk unit appraisal, on one hand, in constructing portfolio analysis, and … on the other hand, through the office market risk premium modelling. Our doctoral study proposes to adapt financial …

In this paper, we characterize subjective probability beliefs leading to a higher equilibrium market price of risk. We … establish that Abel's result on the impact of doubt on the risk premium is not correct in general; see Abel [2002. An … introduce, on the set of subjective probability beliefs, market-price-of-risk dominance concepts and we relate them to well …

of assets with short-selling where there is risk and ambiguity. Agents have Bewley’s incomplete preferences. As an … of the risk adjusted sets of probabilities intersect. The more risk averse, the more ambiguity averse the agents, the …

, and political risk affect the performance, risk-taking behavior and compensation fees of mutual funds. Overall, the … results show strongly that legal conditions, culture, and political risk have robust differential effects on fees, performance … and risk-taking behavior of Islamic funds and conventional funds. We find that Islamic mutual funds in countries with …

and Stiglitz 'model. In this case, we show that the optimal contract exhibits a deductible for the high health risk type … low health risk type. …

committee’s meetings. The risk of losing face, which is not felt in the same way by the attendees depending on their status, is … a central motivation for this phenomenon. Directors perceive a risk that their impressions are cynically managed. Then … reflexive social control: the actors who report to the committee criticize themselves. Risk leads them to self-discipline; Trust …