common knowledge, except that bidders have private degrees of aversion to downside-risk. In this model, the optimal FPA … risk or risk aversion generally leads to lower equilibrium bids. …

This paper re-examines the performance of REITs, stocks, and fixed-income assets based on the preferences of risk …-averse and risk-seeking investors using mean-variance and stochastic dominance approaches. Our findings indicate no first … order to maximize their expected utility, the risk-averse prefer fixed-income assets over real estate, which, in turn, is …

explore this possibility, I develop a theory that unifies models of investment choice, informal risk sharing, and formal … inefficiencies. First, borrowers free-ride on their partners, making risky investments without compensating partners for this risk …. Second, the addition of peer-monitoring overcompensates, leading to sharp reductions in risk-taking and profitability. Equity …

extent observed team decisions under risk are actually consistent with the principles of rational choice, specifically the … individuals, teams accumulate significantly more expected value at a significantly lower total risk (measured in SD). We introduce … a team decision algorithm, excess-risk vetoing, that combines simple majority voting with the right to veto alternatives …