The paper examines in the laboratory how risk-taking situations are affected by the conditions of observing other …

This paper addresses two questions about the morality of warfare: (1) how much risk must soldiers take to minimize … precautions that expose them to greater risk. In a well-known article, Asa Kasher and Amos Yadlin argue that while soldiers must … correct. Although soldiers may take extra risks on behalf of their own civilians, the minimally acceptable risk for enemy …

We extend the canonical income process with persistent and transitory risk to shock distributions with left …-skewness and excess kurtosis, to which we refer as higherorder risk. We estimate our extended income process by GMM for household … show that in a standard incomplete-markets life-cycle model, first, higher-order risk has sizable welfare implications …

We extend the canonical income process with persistent and transitory risk to shock distributions with left …-skewness and excess kurtosis, to which we refer as higher-order risk. We estimate our extended income process by GMM for household … show that in a standard incomplete-markets life-cycle model, first, higher-order risk has sizable welfare implications …

Dependence modelling and estimation is a key issue in the assessment of portfolio risk. When measuring extreme risk in … terms of the Value-at-Risk, the multivariate normal model with linear correlation as its natural dependence measure is by no … the data. -- Risk management ; extreme risk assessment ; multivariate models ; dependence function …

Exchanging collateral has emerged as the market standard for mitigating counterparty credit risk in the interbank … derivatives market. Collateral postings do not, however, eliminate that risk completely. Most notably, the so-called gap risk … remains, which is the risk that in the event of counterparty default, mismatches between the collateral account and the …