common knowledge, except that bidders have private degrees of aversion to downside-risk. In this model, the optimal FPA … risk or risk aversion generally leads to lower equilibrium bids. …

Dominance and further toDecreasing Absolute and Increasing Relative Risk Aversion Stochastic Dominance. The efficient sets …

We show that if an agent is uncertain about the precise form of his utility function, his actual relative risk aversion … may depend on wealth even if he knows his utility function lies in the class of constant relative risk aversion (CRRA … their risk aversion parameter invest less in risky assets than wealthy investors with identical risk aversion uncertainty. …

role of uncertainty and risk aversion are examined using several highly simplified models involving a possible future …

rate adjustments. The formulation is theory-based, relying on balance of payments equilibrium conditions and international … asset portfolio considerations. Based on the modified exchange market pressure index, the paper also proposes a global risk … response index, which reflects the country-specific sensitivity of capital flow pressures to measures of global risk aversion …

We estimate a dynamic programming model of schooling decisions in which the degree of risk aversion can be inferred … homogeneous with respect to the degree of risk aversion. We allow endogenous schooling attainments to affect the level of risk … experienced in labor market earnings through wage dispersion and employment rate dispersion. We find a low degree of relative risk …

reasonable, since it can be justified by assuming a plausible degree of risk aversion. …

We show how optimal saving in a two-period model is affected when prudence and risk aversion of the underlying utility … and the pure time discount rate, there is distributional neutrality between the two periods. Otherwise, changes of risk …

Consider a simple two-state risk with equal probabilities for the two states. In particular, assume that the random … way, we can extend and generalize existing results about risk attitudes. This lottery preference includes behavior … exhibiting higher order risk effects, such as precautionary effects and tempering effects. …