regularities by developing a new firmbased trade model wherein managers are risk averse. Higher volatility induces the reallocation …

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. …

-form expressions of welfare loss from shocks and epistemological uncertainty identify the interaction of (intertemporal) risk attitude …

The paper clarifies the link between changes in risk aversion and the effect on the consumption discount rate. In a … rate to a change in risk aversion depends on some fundamental properties of the considered uncertainties. The application … of this general result to specific forms of uncertainty extends existing results to more general forms of risk and yields …

in the degree of risk aversion. If the contract price increases, the total quantity purchased in period 1 will increase … in the degree of risk aversion. The relationship between the optimal contract quantity and the degree of risk aversion … levels between a combined strategy and a spot sourcing strategy. It shows that a combined strategy is optimal for a risk …