cash flows to remain stagnant while discount rates increase, resulting in lower stock prices. Both the equity risk premium … and nominal risk-free yields rise. However, longer-term real yields remain unchanged, and policy-sensitive real yields …

This article studies the effects of tax competition on the provision of public goods under business risk and partial …

Under conditions of risk it makes a difference whether the discount rate is determined as an expected present or as an …

potentially loss averse around their expected outcome make risky investments in education and we draw on optimal tax theory to … explore the design of policy. The model highlights the critical roles played by (i) the relationship between behavioural risk … preferences, standard risk aversion and labour supply behaviour, (ii) the risk properties of education, and (iii) the degree of …

) we vary three payoff indices. Indices of risk and temptation capture the unilateral incentives to defect against … reduces cooperation. In neither study, nor in either subject pool of our second study, do we find a significant effect of risk. …

the literature on wage effects we add a breakdown of variances in heterogeneity and risk. …