idiosyncratic entrepreneurial risk-- a risk that introduces, not only a precautionary motive for saving, but also a wedge between …

Typical value-at-risk (VAR) calculations involve the probabilities of extreme dollar losses, based on the statistical … VAR values that are adjusted for risk aversion, time preferences, and other variations in economic valuation. In the … context of a representative agent equilibrium model, we construct an estimator of the risk-aversion coefficient that is …

household's attitudes toward risk, as shown in Swanson (2012). In this paper, I analyze how frictional labor markets affect that … analysis. Household risk aversion (as measured by willingness to pay to avoid a wealth shock) is higher: 1) in countries with … in Europe are large enough to play a substantial contributing role to risk aversion in those countries. Nevertheless …

-- do not confuse behavior towards risk with attitudes towards intertemporal substitution, the true beta of an asset is, in … general, an average of its consumption and market betas. We show that the two parameters measuring risk aversion and … plan), while a unit coefficient of relative risk aversion gives rise to myopia in portfolio allocation (the future does not …

This article develops two points. First, insurance against the risk of legal change is largely unavailable, primarily …

soliciting the current client in the event of termination of employment. The socially optimal level of entrepreneurship will … are too restrictive and produce too little entrepreneurship, and governments can increase welfare by limiting enforcement …

of idiosyncratic risk. We study this burden in the case of high-tech companies funded by venture capital. Over the past … attracting venture funding. Entrepreneurs with a coefficient of relative risk aversion of two and with less than $0.7 million ….4 million and the possibility of payoffs over $1 billion. We conclude that startups attract entrepreneurs with lower risk …

a start-up, or the inventor's effort cost in development is lower in a start-up. We test the theory using data from the … with the predictions of our theory …

The paper studies the effects of tax policy on venture capital activity. Entrepreneurs pursue a single high risk … an entrepreneurial sector, the paper investigates the effects of taxes on the equilibrium level of entrepreneurship and …

We document three new facts about entrepreneurship. First, a majority of male entrepreneurs start a firm in the same or …