coefficient of relative risk aversion (CRRA) that is commensurate with a 100% investment in the risky asset is simulated. The … following parameters are varied: the riskless return, the market standard deviation, the market stock premium, and the skewness …

preferences. Full insurance cannot be rejected. As the risk-sharing as-if-complete-markets theory might predict, estimated risk …We show how to use panel data on household consumption to directly estimate households’ risk preferences. Specifically …, we measure heterogeneity in risk aversion among households in Thai villages using a full risk-sharing model, which we …