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 …

empirically study the relation between income risk, experimentally elicited loss aversion, and precautionary savings. We do so … subject to substantial income risk. In line with the theoretical predictions, we find that an increase in income risk is … aversion. An accompanying laboratory experiment confirms that an exogenous increase in income risk causally leads to this …

risk averse anymore even if utility from divisible consumption is concave. I propose a definition of insurance in the … that bases insurance demand on risk aversion with important implications for policy and research. … such state-dependent indivisible consumption opportunities influences a person’s risk attitudes. In general, people are not …

and on the literature of imperfectly divisible consumption to argue that the general purpose of insurance is not a risk … transfer, but meeting a conditional need. In this way, insurance aligns the risk in one's ftnancial endowment with the risk in …I revisit the question of which motive underlies insurance demand. I draw on the literature of state-dependent utility …

standard approach that bases insurance demand on risk aversion with important implications for policy and research. … nature. The existence of such state-dependent indivisible consumption opportunities influences a person's risk attitudes. In … general, people are not risk averse anymore even if utility from divisible consumption is concave. I propose a definition of …

of Intertemporal Substitution ; Stone-Geary Preferences ; Two-asset Portfolio ; Household Portfolios ; Wealth Inequality …

elicit individual risk preferences according to Cumulative Prospect Theory. Applying a latent class model to the choice data …’ tastes in typical contract attributes of health insurances and to investigate their relationship with individual risk … preferences. First, subjects make consecutive insurance choices varying in the number and types of contracts offered. Then, we …