Utility theory suggests that foreseeable risk should increase the compensation for work. This paper expands on this … notion: on basis of utility theory, people should care not only about risk but also about the skewness in the distribution of … the compensation paid. In particular, because the degree of risk aversion ought to decrease with income, people should …

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 …

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 …

policy relevant outcomes and policy effects, that of the wage premia for fatal injury risk. Estimates of the overall hedonic …

This paper examines the question of whether risk aversion of prime-age workers is negatively correlated with human … height to a statistically significant degree. A variety of estimation methods, tests and specifications yield robust results … model of risk attitude. …

This paper is concerned with testing the time series implications of the capital asset pricing model (CAPM) due to … evidence against Sharpe-Lintner CAPM is found mainly during the recent financial crisis. Furthermore, a strong negative …

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

In this paper we test for risk compensation in wages using Danish panel data. With the conviction that the type of … Danish population to calculate different measures of earnings risk by education. Our long panel data set also allows us to … components in wage compensation. We also experiment with new measures of earnings risk based on transitory intertemporal …