Conjoint analysis is widely used as a marketing research technique to study consumers? product preferences and simulate customer choices. It is used in designing new products, changing or repositioning existing products, evaluating the effect of price on purchase intent, and simulating market...

In this paper we try to construct a two-attribute group disutility function for two conflicting decision makers, taking into account the property of utility independence and/or convex dependence between them. Two variables in the group utility function are disutility levels of two conflicting...

This paper investigates the role of currency denomination in the the intertemporal risk-return relation among G7 countries. Similar to the findings of previous studies, our estimation also shows that the financial markets of the G7 countries are integrated. We obtain significant pricing...

We study the impact of time-varying macroeconomic conditions on optimal dynamic capital structure and the aggregate dynamics of firms in a cross-section. Our structural-equilibrium framework embeds a contingent-claim corporate financing model within a standard consumption-based asset- pricing...

European farmers face increasing income uncertainty and the debate is growing on the role of insurance schemes and of public support in this field. This debate is further stimulated by the perspective of introducing instruments to cope with risk also in the Common Agricultural Policy. Therefore,...

The objective of this study is to investigate how professional traders in futures and optionsmarkets behave under risk and uncertainty. Our preliminary findings suggest that most tradersexhibit concave utility functions for gains and convex utility functions for losses, while theirweighting...

Farmers face increasing income uncertainty and the debate is growing on the role of insuranceschemes and of public support in this field.This paper applies a PMP modelling approach that takes into explicit consideration riskaversion behaviour to test its applicability to evaluating the potential...

This paper reports the results of behavioral economic experiments conducted in Peru toexamine the relationship amongst risk preferences, loan take-up, and insurance purchase decisions. This area-based yield insurance can help reduce people's vulnerability to large scalecovariate shocks, and can...

This paper examines the effects of risk aversion on compliance choices in markets for pollution control. A firm’s decision to be compliant or not is independent of its manager’s risk preference. However, noncompliant firms with risk averse managers will have lower violations than otherwise...