risk. However, it is only recently that this intuitive notion has been formalized and axiomatically characterized. We … one can jointly estimate attitudes towards uncertainty, attitudes towards risk, and subjective probabilities in a rigorous … uncertainty aversion in an empirically tractable manner. Our results show that attitudes towards risk and uncertainty can be …

performance of individual securities. Risk premia (spreads) increase with the proportion of traders in the market who are averse …

. Furthermore, we establish two quantitative results. Firstly, modest levels of risk aversion are necessary to match observed debt … ; Collateral ; Income risk ; Bankruptcy …