risk aversion. A flexible-utility parameterization is found to slightly worsen technology parameter estimates. Results also …A thought experiment is designed to investigate whether the structure of risk aversion (i.e., the changes in absolute … or relative risk aversion associated with changes in wealth) can be estimated with reasonable precision from agricultural …

The paper uses a Walrasian two-period financial market model with informed and uninformed constant absolute risk averse … (CARA) rational investors and noise traders. The investors allocate their initial wealth between risky assets and risk …’ prediction coefficient but makes that of the uninformed investors diminish. Inflation does not affect rational investors’ risk …

Layer-based counterparts of a number of well-known risk measures have been proposed and studied. Namely, some …