particular, we found that optimism and anxiety were a liability in unfavorable markets, leading to unreasonable levels of risk …. Impulsivity was a liability in both favorable and unfavorable markets, leading to high risk on unfavorable markets, and low risk … in favorable markets. Openness to experience was an asset in unfavorable markets, leading to adjusted risk taking …

Each economic actor is characterized by his own evaluations, traits, and strategies. Although heterogeneity of economic …

agricultural insurance program on household level production, borrowing, and saving. The empirical strategy includes both … credit demand by 25%; third, it decreases household saving by more than 30%; fourth, the effect of insurance on borrowing …Taking advantage of a natural experiment and a rich household-level panel dataset, this paper tests the impact of an …

a new insurance product in rural China. Specifically, we conduct a set of insurance games with a random subset of … farmers. Our findings show that playing insurance games improves insurance take-up in real life by 48%. Exploring the … mechanism behind this effect, we show that the effect is not driven by changes in risk attitudes, changes in perceived …

We study the portfolio decision of a household with limited information-processing capacity (rational inattention or RI … increases with the degree of inattention because inattentive investors with recursive utility face greater long-run risk and …

capital markets, for both risk management and portfolio selection purposes. Researchers frequently use co-integration and … investigating unit roots, co-integration, time-varying volatility, and causality in variance. For estimating portfolio market risk …, this study employs Value-at-Risk with delta-normal approach. The results show whether fund managers would be able to …

which the risk management and hedging needs of investors may be effectively met through the derivative instruments. However …

Using the Chinese urban household survey data between 1997 and 2006, we find that income inequality has a negative …