The risk of investment in schooling has largely been ignored. We assess the variance in the rate of return by surveying … positively skewed. Our best guess of ex ante risk in university education is a coefficient of variation of about 0.3, comparable …

can undertake an active portfolio management strategy by investing in both risk-free and risky assets. Using a two …

even if the risk-free asset return is correlated with other risky assets' returns. However, equivalence fails to hold on an …

of savings, precautionary savings, loss aversion, and risk. We provide the relevant theory, followed by empirical tests …

We study how background health risk affects financial risk-taking. We elicit financial risk-taking behavior of a … infections across time and space, we find that an increase in infections affecting background health risk translates into higher … financial risk-taking, and for the alleviating effect of self-insurance devices …

explain a set of behavioral anomalies identified across four distinct domains of decision-making: choice under risk, choice … risk and ambiguity, belief updating, and survey expectations. Our framework makes predictions that we test using exogenous …