their risk aversion parameter invest less in risky assets than wealthy investors with identical risk aversion uncertainty. …We show that if an agent is uncertain about the precise form of his utility function, his actual relative risk aversion … may depend on wealth even if he knows his utility function lies in the class of constant relative risk aversion (CRRA …

In this paper, we connect the social network theory on centrality measures to the economic theory of preferences and … links with its neighbours. A crucial property of a preference relation over network positions is neutrality to ordinary risk … is neutral to ordinary risk. Similarly, we characterize a class of affine combinations of the outdegree and indegree …

, contracts, or licenses that involve ensuing payoff uncertainty for the winning bidder. The distribution of the random payoff is … common knowledge, except that bidders have private degrees of aversion to downside-risk. In this model, the optimal FPA … risk or risk aversion generally leads to lower equilibrium bids. …

of uncertainty on travel times and the implications this has forestimations of travel time values has received much less … attention in the literature. In thispaper we compare various modelling approaches to address uncertainty and demonstrate … thatignoring uncertainty issues may easily lead to distorted estimates of values of travel time. Thisis of special relevance in …

diversification against the benefits in terms of the standard deviation of the returns. Suppose a safety first investor cares about … downside risk and recognizes the heavytail feature of the asset return distributions. Then we show that optimal portfolio sizes …

find that risk-shifting interacts with regulatory arbitrage motives to explain how banks adjust their portfolios after … yielding but zero risk-weight sovereign bonds. The increase in banking system risk might therefore be even larger than the … decline in risk-weighted solvency ratios suggests. Distress in the banking system also feeds back onto bond prices. Bonds …