This thesis contributes to the development of theoretical and experimental approaches that extend the analysis of risk … are concerned with extensions and applications of the most promising descriptive theories of behavior under risk. In these … subpopulations are best described by different models.Chapter 1 analyzes how higher-order risk preferences, such as prudence and …

In two experiments, decision makers chose between risky and ambiguous gambles under conditions of both single … strategy decisions. In both experiments, decision makers chose the ambiguous options more frequently in the repeated …-choice than the single-choice conditions. More decision makers made risky single choices and ambiguous repeated choices than …

economics, decision theory, the economics of sustainability and cost benefit analysis. The thesis is structured in three parts … consumption. The second part introduces a generalized evaluation model and a new concept of risk aversion. The latter concept …, termed intertemporal risk aversion, takes up an important concern of the precautionary principle. The third part extends the …

-transactions. These premia are credit spreads on top of the risk free interest rate and compensate investors for the expected annualized … default loss and for the risk of default losses. Focusing on the second component, the pure risk aversion premium, the paper … estimates the relative risk aversion (RRA) implied by the credit spreads and the loss distributions of 215 differently rated …

risk attitude is a factor when making the decision to cooperate. ….Chapter IIIThis paper experimentally investigates whether risk-averse individuals punish less if the outcome of punishment is … risk-averse subjects are equally likely to cooperate in the prisoner’s dilemma and equally likely to punish in the …

This half-semester course discusses decision theory and topics in game theory. We present models of individual decision …-making under certainty and uncertainty. Topics include preference orderings, expected utility, risk, stochastic dominance …, supermodularity, monotone comparative statics, background risk, game theory, rationalizability, iterated strict dominance multi …

understandable and consistent with rational decision making. Standard models of the decision about optimal hedging show that it is … negatively related to basis risk, to quantity risk, and to transaction costs. Farmers who have less uncertainty about prices have … incentive to hedge can be greatly reduced. And finally, farmers who have low levels of risk aversion have little to gain from …

risk through investment in equipment or production of other crops on the property. …

. It suggest a microeconometric method for measuring flooding related risk preferences of affectedindividuals. The method …-experimental approach to measure differences in the risk attitudes of farmers located in highflooding risk areas versus farmers located in … low flooding risk areas is followed. Changes in flooding risk relatedbehaviour over time is analysed and marginal effects …