Several studies have found that the cross-section of stock returns reflects a risk premium for bearing downside risk …; however, existing measures of downside risk have poor power for predicting returns. Therefore, this paper proposes a novel … measure of downside risk, the ES-implied beta, to improve the prediction of the cross-section of asset returns. The ES …

Traditional risk assessments use asset losses as the main metric to measure the severity of a disaster. This paper … proposes an expanded risk assessment based on a framework that adds socioeconomic resilience and uses wellbeing losses as its … reconstruction process at the household level, this risk assessment provides new insights into disaster risks in the Philippines …

Risk-aversion has generally been found to decrease in income. This may lead one to expect that poor countries will be … more risk-averse than rich countries. Recent comparative findings with students, however, suggest the opposite, giving rise … to a risk-income paradox. This paper tests this paradox by measuring the risk preferences of more than 500 household …

The challenges associated with poverty measurement with a cardinal variable have received due attention during the last …