In this paper, we study the determinants of the value of informal risk sharing groups. In particular, we look at the … if individuals can deviate form risk sharing agreements in coalitions or not. We test empirically several predictable … size of risk sharing groups can be rejected or that only imperfect risk sharing is obtained within the village because of …

of choice under risk. The axiomatic foundation of Yaari's non-expected utility approach permits the formulation of a …'s attitude towards risk from its attitude towards wealth and is consistent with experimental evidence on decision-making under … wealth and is compatible with either risk aversion or risk inclination. This appealing feature of the dual theory allows us …

. The coverage includes decision-making under uncertainty, measuring risk and risk aversion, insurance and asset markets …

Assuming a risk-neutral bank and assuming household utility to be exponential, we show how under information symmetry …

and interbank rate risk on the optimaldecisions on deposits and loans of a competitive bank. It is found that dueto the … introduction of both sources of risk there appear direct effects as wellas portfolio effects which jointly determine changes in the … bank’s behavior.Moreover, it is shown that there is an interaction between the effects of theintroduction of risk and …

Based on Jewitt (1986) we try to find a characterization of comparative downside risk aversion and love. The desired … of downside risk love, but not in the case of downside risk aversion. A counterexample is provided. …

This paper analyzes optimal incentive compatible debt contracts when lenders are risk averse. The decisive factor in … this regard is that risk aversion requiresto consider further sources of risk the lenders are exposed to. The main … due to risk aversion oflenders which is reinforced by the introduction of a further source of risk – areshown to be in …

The relationship between risk in the environment, risk aversion and inequality aversion is not well understood … with varying degrees of risk ('endowment risk') influence individual behavior. We derive theoretical predictions for these … games using utility functions that capture additively separable constant relative risk aversion and inequity aversion. We …