exogenous risk and delegation. That is, we show that only if exogenous risk is sufficiently large, the risk-neutral principal … may prefer to delegate authority over decisions to the risk-averse agent. Intuitively, for incentive reasons, the … principal may optimally want to allow the agent to reduce his risk exposure. Nevertheless, even endogenous risk may be higher …

in the type of degree studied can explain an additional 8.4% of the male-female pay gap. Risk-augmented earnings …

We analyze the role of risk-sharing institutions in transitions to modern economies. Transitions requires individual …-level risk-taking in pursuing productivity-enhancing activities including using and developing new knowledge. Individual …-level, idiosyncratic risk implies that distinct risk-sharing institutions - even those providing the same level of insurance - can lead to …

the impacts both of risk aversion and balanced skills on the likelihood individuals choose entrepreneurship. Data on Dutch … about the effects of risk aversion on selection into entrepreneurship. …This paper proposes that risk aversion encourages individuals to invest in balanced skill profiles, making them more …

We present first evidence how individual risk preferences shape entrepreneurial investment among the very wealthy using … standard measure of risk tolerance. We find that wealthy individuals are more likely to be entrepreneurs and invest a larger … ways strongly determined by individual risk tolerance. Since the wealthy dominate aggregate risky investment, their risk …

the impacts both of risk aversion and balanced skills on the likelihood individuals choose entrepreneurship. Data on Dutch … about the effects of risk aversion on selection into entrepreneurship. …This paper proposes that risk aversion encourages individuals to invest in balanced skill profiles, making them more …