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 …

This study examines whether people optimally respond to prize incentives for risk taking in tournaments. I exploit the … television game show World Poker Tour as a natural experiment. The results show that professional players strategically choose … the degree of risk taking depending on the incentives implied by the prize structure they face. I find that they are more …

stereotype of risk averse and less competitive older employees. …

stereotype of risk averse and less competitive older employees. …

While most empirical analysis of prediction markets treats prices of binary options as predictions of the probability … are the degree of risk aversion and the distribution on beliefs, and we provide some novel data on the distribution of …

While most empirical analysis of prediction markets treats prices of binary options as predictions of the probability … are the degree of risk aversion and the distribution on beliefs, and we provide some novel data on the distribution of …