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Capital Budgeting with Taxes under Uncertainty and Irreversibility / Investitionsplanung mit Steuern bei Unsicherheit und Irreversibilität
Niemann, Rainer; Sureth, Caren - In: Jahrbücher für Nationalökonomie und Statistik 225 (2005) 1, pp. 77-95
neutrality and risk aversion for irreversible investment projects. Integrating taxes into real option theory, it can be shown … irreversiblen Investitionen unter Risikoneutralität und Risikoaversion. Durch Integration der Besteuerung in realoptionsbasierte … Risikoneutralität zu identischen Investitionsentscheidungen führen. Unter Risikoaversion dagegen benötigt contingent claims analysis ein …
Persistent link: https://www.econbiz.de/10014609028
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A Simple Metric for Gauging Risk Aversion
Eisenhauer, Joseph G. - In: Asia-Pacific Journal of Risk and Insurance 4 (2010) 2
The underlying rationale for insurance purchases and other forms of risk management is aversion to risk, yet the measurement of risk aversion has been inappropriately focused on risks of little or no consequence. The present paper demonstrates that a quantitative measure of large-scale risk...
Persistent link: https://www.econbiz.de/10014585476
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On the Effect of Risk Aversion in Two-Person, Two-State Finance Economies
Berden, Caroline; Peters, Hans - In: The B.E. Journal of Theoretical Economics 7 (2008) 1
The effect of replacing an agent in a two-person two-state finance economy by a more risk averse agent is studied. It is established under which conditions the other agent benefits or looses in equilibrium from dealing with a more risk averse agent. If one agent becomes more risk averse, then...
Persistent link: https://www.econbiz.de/10014589146
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Risk Aversion and Social Networks
Kovářík, Jaromír; van der Leij, Marco J. - In: Review of Network Economics 13 (2014) 2, pp. 121-155
Abstract This paper first investigates empirically the relationship between risk aversion and social network structure in a large group of undergraduate students. We find that risk aversion is strongly correlated to local network clustering, that is, the probability that one has a social tie to...
Persistent link: https://www.econbiz.de/10014618856
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Reluctant to Reform? A Note on Risk-Loving Politicians and Bureaucrats
Thomas, Tobias; Heß, Moritz; Wagner, Gert G. - In: Review of Economics 68 (2017) 3, pp. 167-179
Abstract From a political economy perspective, politicians often fail to implement structural reforms. In this contribution we investigate if the resistance to reform is based on the differences in the risk preferences of voters, politicians, and bureaucrats. Based on three surveys among the...
Persistent link: https://www.econbiz.de/10014619353
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Risk measurement with equivalent utility principles
Denuit, Michel; Dhaene, Jan; Goovaerts, Marc; Kaas, Rob; … - In: Statistics & Risk Modeling 24 (2006) 1, pp. 1-25
under uncertainty: the classical expected utility paradigm, Yaari's dual approach, maximin expected utility theory, Choquet … expected utility theory and Quiggin's rank-dependent utility theory. Building on the actuarial equivalent utility pricing …
Persistent link: https://www.econbiz.de/10014621319
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Risk aversion in the family business: the dark side of caution
R.W. Hiebl, Martin - In: Journal of Business Strategy 35 (2014) 5, pp. 38-42
Purpose – This paper aims to shed light on the potential downsides of risk aversion in family firms. Moreover, it seeks to provide measures on how to balance risk taking and risk aversion in family businesses. Design/methodology/approach – The article first presents four “dark sides” of...
Persistent link: https://www.econbiz.de/10014847244
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Assessing quality perception of private labels: intransient cues and consumer characteristics
Bao, Yongchuan; Sheng, Shibin; Bao, Yeqing; Stewart, David - In: Journal of Consumer Marketing 28 (2011) 6, pp. 448-458
Purpose – This study aims to examine the moderating effects of two important consumer characteristics (product familiarity and risk aversion) on the relationships between two intransient cues (store image and product signatureness) and consumer quality perception of private label, as well as...
Persistent link: https://www.econbiz.de/10014848913
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Gender, trust and risk-taking: a literature review and proposed research model
Zeffane, Rachid - In: Journal of Enterprising Communities: People and Places … 9 (2015) 3, pp. 221-232
Purpose – This paper aims to review and discuss recent literature on gender, trust, risk-taking and entrepreneurship. On this basis, a hypothetical model as a basis for theoretical and hypothetical development in future research is proposed. Design/methodology/approach – This paper presents...
Persistent link: https://www.econbiz.de/10014858038
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Retesting the CCAPM Euler equations
Azar, Samih - In: International Journal of Managerial Finance 7 (2011) 4, pp. 324-346
Purpose – This paper seeks to reconsider the Euler equation of the Consumption Capital Asset Pricing Model (CCAPM), to derive a regression‐based model to test it, and to present evidence that the model is consistent with reasonable values for the coefficient of relative risk aversion (CRRA)....
Persistent link: https://www.econbiz.de/10014785337