We investigate in this paper the attitudes towards risk of bettors in British horse races. The model we use allows us … models. On the other hand, cumulative prospect theory has higher explanatory power. Our preferred estimates suggest a pattern … of local risk-aversion similar to that proposed by Friedman-Savage. …

We examine whether prior exposure to environments with a varying degree of risk affects individuals’ risk …-taking behavior. Using a laboratory experiment, we find that subjects exposed to a high risk environment exhibit higher levels of risk … aversion than those who were exposed to a moderate or low risk environment. This effect is not driven by subjects’ realized …

In their article "Strong Evidence for Gender Differences in Risk Taking," Gary Charness and Uri Gneezy (2012) review a … are more risk averse than males. This study replicates and extends their article, demonstrating that its claims and …

As in any research field, risk theory has its important questions, results, and paradoxes, as well as its seminal … papers and key authors. Louis Eeckhoudt has been a key author in the field of risk theory. To celebrate his many … contributions to the literature, and provides some illustrations of the remarkable research saga in risk theory over the last 50 …

As in any research field, risk theory has its important questions, results, and paradoxes, as well as its seminal … papers and key authors. Louis Eeckhoudt has been a key author in the field of risk theory. To celebrate his many … contributions to the literature, and provides some illustrations of the remarkable research saga in risk theory over the last 50 …

In this paper, we compare the attitude towards current risk of two expected-utility-maximizing investors that are …

and attitude toward risk. Within this framework, we characterize the formation of subjective probabilities, the … equilibrium in a pointspread gambling market, and how the diversity in beliefs opens up the market to more risk-averse individuals …. In addition, we derive the individual's reservation pointspread as a function of his degree of risk aversion. …