This study explores people's risk attitudes after having suffered large real-world losses following a natural disaster … is consistent with prospect theory predictions of the adoption of a risk-seeking attitude after a loss …

-probability extreme events on environmental policy in a continuous-time real options model with “tail risk”. In a nutshell, our results … indicate the importance of tail risk and call for foresighted pre-emptive climate policies …

preferences, standard risk aversion and labour supply behaviour, (ii) the risk properties of education, and (iii) the degree of …Justification for policies to encourage investments in education, particularly for individuals at the lower end of the … potentially loss averse around their expected outcome make risky investments in education and we draw on optimal tax theory to …

This paper considers how optimal education and tax policy depends on the risk properties of human capital. It is … demonstrated that a key feature of human capital investments is whether they increase or decrease wage risk. In a benchmark model … positive or a negative education premium. In the same model a positive intertemporal wedge is optimal. Aset of generalizations …

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

In this model of education, where individuals are exposed both to educational risk and to wage risk within the skilled … present risks is a dichotomic task: Wage risk is diversified ex post among the skilled by graduate taxation and skill …-specific tuition fees. Educational risk of failure and inequality between skilled and unskilled workers are mitigated ex ante by …

the global public good ‘climate change mitigation’. This paper focuses on a specific type of international transfer that … aims at raising mitigation while also reducing the damages from climate change: conditional adaptation support. Especially … transfers reduce the recipients’ incentives to contribute to climate change mitigation, one would, however, expect at least …