degree of pessimism of the representative agent is the mean of the individual ones weighted by their index of absolute risk …

relative risk aversion or decreasing absolute risk aversion, we prove that (1) the fact that growth is uncertain reduces the …

progress induces earlier prevention effort only if prudence is larger than twice absolute risk aversion. This paper thus …

We propose a new decision criterion under risk in which people extract both utility from anticipatory feelings ex ante … raises both the utility of ex ante feelings and the risk of disappointment ex post. We characterize the optimal beliefs and … the preferences under risk generated by this mental process and apply this criterion to a simple portfolio choice …

This paper explores empirically the link between French equities returns Value-at-Risk (VaR) and the state of financial … equities returns ; Value at Risk ; investment horizon ; vector auto-regression …

This paper explores empirically the link between French equities returns Value-at-Risk (VaR) and the state of financial …