shows that macroeconomic risk acts as an important deterrent to investments. -- business cycles ; real options ; investment …

typically shares in the latter gains via the collection of tax revenues. Hence to the extent the risk discount rate should … reflect the co-variability between the return from public investment and that of the market, we are led to measuring the risk …, 1950-2000, and show that the social risk premium is relatively small vis-à-vis the market. Consequently, the use of the …

-form expressions of welfare loss from shocks and epistemological uncertainty identify the interaction of (intertemporal) risk attitude …

regularities by developing a new firmbased trade model wherein managers are risk averse. Higher volatility induces the reallocation …

degree of pessimism of the representative agent is the mean of the individual ones weighted by their index of absolute risk …