' delegation decision as a trade-off between asset return uncertainty and delegation uncertainty. Our theory explains several …

.7 with a standard deviation of 2.2, re ecting strong heterogeneity of risk preferences. We fi nd signi cant correlations … impute a risk aversion measure to every respondent and use this to estimate the correlation with observed risky behaviour …. Under the additional assumption of CRRA preferences, the sample average for the coefficient of relative risk aversion is 3 …

We test 494 households participating in the German Socio Economic Panel SOEP to examine risk taking by one household … model, we calculate individual risk aversion, sensitivity toward a bad outcome for the other household member, and the … member that affects a second household member. Choices cannot be explained by (short term) strategic behavior. Respect for …

This paper investigates whether contest schemes induce excessive risk-taking by implementing in the laboratory a novel … payoff incentives (within-subject). We find evidence for excessive risk-taking in all our treatment conditions, with the non … intrinsic motivation for taking-risk in the stopping task. This intrinsic motive and the strategic motive for excessive risk …

This paper examines how cooperation in an insurance game depends on risk preferences and the riskiness of income. It … consumption when perfect risk sharing is not achieved. -- informal insurance ; limited commitment ; risk preferences ; riskiness … of the discount factor above which perfect risk sharing is self-enforcing. When agents face no aggregate risk, there is …