financial knowledge and are more risk-tolerant than non-owners. Distrust in banks or in conventional currencies is not found to … volatility or the risk of fraud and online theft dampen the demand for crypto-assets. …

. A standard explanation of the disposition effect refers to prospect theory and in particular to the asymmetric risk … aversion according to which investors are risk averse when faced with gains and risk-seeking when faced with losses. We show … that for reasonable parameter values the disposition effect can however not be explained by the prospect theory as proposed …

correlation in their assets (health, wealth, wisdom, i.e. skills), causing them to demand a great deal of insurance coverage …. Insurers on the other hand eschew positively correlated risks. It can be shown that insurance contributes to a reduction of … insurance. Analyzing deviations from trend in aggregate insurance payments, one finds the following for the United States and …

perhaps there is exogenous variation in risk tolerance so that highly risk tolerant households engage in high-risk high …-return activities and the risk-lovers who are lucky constitute the rich A second possibility is that capital market imperfections a la … utility of anticipated bequests) implying that risk aversion declines as wealth rises The paper concludes that the overall …

explained by an individual’s perception of the risk that is involved whenever an outcome is to be received in the future. This … risk may concern the size of the actual outcome or the endowment consumption stream to which the outcome is added. Both … experiments. We show how relative degrees of changes in risk over time can predict choices. …

materialize over time. Because risk and delay often arise simultaneously, theories of decision making should be capable of … explaining how behavior under risk and over time interacts. There is, in fact, a growing body of evidence indicating important … interactions between behaviorally revealed risk tolerance and patience. Risk taking behavior is delay dependent, and time …

household portfolio allocation are collected from the HINK surveys for the period 1982-1992, and portfolio shares of different …

Who is wealthy? This paper presents empirical estimates of household movements into and out of the top percents of the …