nominal interest rate), in a general-equilibrium model of asset pricing and risk sharing with endogenous collateral …

nominal interest rate), in a general-equilibrium model of asset pricing and risk sharing with endogenous collateral … differing risk characteristics of the assets purchased and the ones issued to finance these purchases. At the same time, the …

The theory of expected utility maximization (EUM) proposed by Bernoulli explains risk aversion as a consequence of … from the terms offered; and subjects often appear to be too risk averse with regard to small gambles (while still accepting … from judgments based on imprecise (and noisy) mental representation of the decision situation. In this model, risk aversion …