This study demonstrates that a market structure within which anticipation of an adverse increase to market volatility risk in future periods induces proactive `exits' from, and `entries' into stock markets leads to the formal theoretical prediction that `ability risk' is priced. The formally...

This study provides formal theoretical evidence for nesting of probability measures that are generated by risk aversion in probability measures that are generated by risk seeking preferences. In presence of highlighted nesting, conditional on independent parameterization of expectations...

I estimate stochastic frontier models for agricultural productivity using factors that proxy for absolute risk aversion (e.g. loan amounts) and factors that proxy for relative risk aversion (loan pricing or interest rates). Empirical findings show absolute risk aversion ceases to matter for...

Suppose populations of economic agents that are parameterized by skewness preference. For stated agents, increasing marginal utility for wealth necessarily is facilitated by a risk premium function that only robustly is parameterized with reference to `relative safety', as opposed to `relative...

Let θ denote anterior probability of equilibrium and ((r(RS))/(r(RA))), ratio of returns to assets that strictly are preferred by risk averse (RA) or risk seeking agents (RS). There exists some range, θ⊆θ satisfying, 0θ1 in context of which each of RA and RS are parameterized by increasing...