, D. and Tversky, A. (1979), 'Prospect theory: An analysis of decision under risk', Econometrica, 46, 263-91. -- Keynes, J …), S164-S187 -- David Bowman, Deborah Minehart and Matthew Rabin (1999), 'Loss Aversion in a Consumption-savings Model ….M. (1936), The General Theory of Employment, Interest and Prices, London: Macmillan. -- Knabe, A., Rätzel, S., Schöb, R. and …

in the model which represent the micro foundation in the model. One of the conclusions is that the more “risk averse” the …

activity is fraught with great risk, which is largely exacerbated by liquidity constraints. This situation is especially …