The paper investigates the relation between the risk preferences of traders and the information aggregation properties … to the full revelation of the state when traders are more risk-averse. The observed pattern of prices is close to the … risk-neutral benchmark, while individuals are risk averse both in a risk elicitation task and when estimating their risk …

average about 40% of the risk neutral fundamental value. Neither uncertainty about the value of total dividend payments nor … specification can rationalize the low traded price in our indefinite-horizon asset markets, while risk attitudes do not play such an …

average, about 40% of the risk-neutral fundamental value. Neither uncertainty about the value of total dividend payments nor … preference specification that models the dynamic realization of dividend payments and incorporates risk preferences can …

bubbles. We consider a setting where participants sorted according to their degree of risk aversion trade in experimental … asset markets. We show that risk sorting is able to explain bubbles partially: Markets with the most risk-tolerant traders … exhibit larger bubbles than markets with the most risk averse traders. In our study risk aversion does not correlate with …

risk aversion and the intertemporal elasticity of substitution. The three-way separation allows the model to further … account for the variance premium puzzle, besides the puzzles of the equity premium, the risk-free rate, and the return … predictability. Specifically, the model matches reasonably well key asset pricing moments with risk aversion under 5. By calibration …

Changes in average FinaMetrica monthly risk tolerance scores were evaluated during the January 2007 to May 2012 time … influence average risk tolerance scores over time. A strong positive correlation (0.70) between average monthly risk tolerance … scores and the S&P 500 was noted. The standard deviation for average monthly risk tolerance scores was relatively low (1 …

count of the word “uncertainty” over the sum of the count of the word “uncertainty” and the count of the word “risk” in …