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. …

be risk averse, (ii) the bidders can have heterogeneous risk preferences, and (iii) the auction can have a binding … reserve price. Our analysis reveals that the premium has an intricate joint effect on risk sharing and expected revenue, which … in general benefits risk averse bidders. When the seller is more risk averse than the pivotal bidder - a condition often …

winner's payment to the seller. De Marzo et al. (2005) show that in an environment with risk-neutral seller and bidders …, steeper securities increase the seller's expected revenue but do not affect the efficiency of the auction. We introduce risk … insurance levels the field for more risk-averse bidders, inducing them to bid more aggressively and improving the revenue and …

one standard deviation increase in conditional volatility. However, when volatility is extremely high, risk …-averse developers exercise development options earlier than risk-neutral developers. Our robustness tests also show that the winning … developers and the losing bidders are indifferent in their risk-aversion behaviors in the government land sale tenders. The …

long horizons. We present an experiment comparing decision making under certainty, risk, and ambiguity, over a shorter … lifecycle. Results show that behavior in the ambiguity treatment is markedly different than in the risk condition and it is …

. Consistent with the conjecture that coordination is difficult to attain in the n-player game, agents play risk dominant strategy … when the number of matching partners increases. Because, at the individual level, the cooperators risk the cooperation cost … than risk dominant strategy even in n-player games at the population level …