Although risk aversion has been used in economic models for over 275 years, the past few decades have shown how higher … order risk attitudes are also quite important. A behavioral approach to defining such risk attitudes was developed by … Eeckhoudt and Schlesinger (2006), based upon simple lottery preference. This article show how the mathematics of lattice theory …

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 …

Common integrated assessment models produce the counterintuitive result that higher risk aversion does not lead to …. The simulations show that aversion to this tipping point risk has little effect. For climate sensitivity of realistic …

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

We use perturbation methods to derive a rule for the optimal risk-adjusted social cost of carbon (SCC) that … different aversions to risk and intertemporal fluctuations, convex damages, uncertainties in economic growth, atmospheric carbon …-run climate feedbacks. Our non-certainty-equivalent rule for the SCC incorporates precaution, risk insurance, and climate …

economic theory to address this issue. We find that the relation between the appropriate compensation and the mean and median …, as well as the degree of risk aversion. Since the consumption uncertainty associated with compensation generally exceeds …

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

) the comparison of the degree of risk aversion for consumption and for LTC expenditures, and (iii) the income level of …

percent of mean income. In this paper we use economic theory to determine the relation between the appropriate make …