often modify risky decisions in response to dynamic wealth or asset thresholds, where they exist. Ignoring this dynamic risk … risk preferences and wealth dynamics may remedy the problem, but can be empirically challenging …Estimating risk preferences is tricky because controlling for confounding factors is difficult. Omitting or imperfectly …

-varying volatility are preferred to the long-run risk model. We analyze asset pricing implications of the estimated models …

still carry considerable amounts of cash. In a preregistered study, I examine whether risk attitudes can explain consumers …' persistent cash holdings. To self-insure against the possibility of being unable to pay by card, risk-averse consumers are ….S. and 95% of Swiss individuals carry cash in their wallets, with an average of USD 64 and CHF 94, respectively. Neither risk …

bequests as potential determinants of the high level of wealth concentration in the US. Analyzing the joint distribution of …. Nonetheless, concentration of labor earnings is the primary source of wealth concentration in the US. This finding reflects the … high correlation between earnings and wealth in the data, as well as the fact that earnings are a major source of income …

the internal margin, i.e., the strength, of loss aversion, and empirically study the relation between income risk …-income population of Bogotá, characterized by limited financial education and subject to substantial income risk. In line with the … theoretical predictions, we find that an increase in income risk is associated with higher savings for loss-averse individuals …

behavioral assumption of weak form mean-preserving spread (w-MPS) risk aversion. The empirical tests provide support in favor of …

theory predicts, ambiguity aversion is negatively associated with stock market participation, the fraction of financial …

theory predicts, ambiguity aversion is negatively associated with stock market participation, the fraction of financial …