-dimensional decision outcomes, economic theory assumes a uni-dimensional utility measure. This paper reviews evidence from behavioral and … makers' difficulties can be explained once the motivational aspects of utility (wanting) are disentangled from the …

a backward stochastic differential equation and incorporates preference for the local risk of the stochastic utility … stochastic differential formulation of intertemporal recursive utility. The present class of utility functionals is generated by …

exogenous risk and delegation. That is, we show that only if exogenous risk is sufficiently large, the risk-neutral principal … may prefer to delegate authority over decisions to the risk-averse agent. Intuitively, for incentive reasons, the … principal may optimally want to allow the agent to reduce his risk exposure. Nevertheless, even endogenous risk may be higher …

to meet their financial obligations. It is based on classical financial-statement approach, a direct inclusion of risk …

In the context of principal-agent theory risk is largely seen as a source that causes inefficiencies and lowers … tournament framework that risk in terms of chance is beneficial from the point of view of a profit maximizing principal who …

is a new risk factor for enterprises taking part in this system. In this paper, we analyze how risk emerging from … loss account accounting for uncertainties and dependencies. Consequently, this model provides a basis for risk assessment …

This paper discusses methods to quantify risk and uncertainty in macroeconomic forecasts. Both, parametric and non … macroeconometric model of the Bundesbank for Germany. Forecast intervals that integrate judgement on risk and uncertainty are obtained. …

can undertake an active portfolio management strategy by investing in both risk-free and risky assets. Using a two …