This paper analyses the determinants of collateral in loans granted to entrepreneurs and consumers. We use cross … contains information about the bank's assessment of the borrower's ex ante risk and the borrowers' wealth including pledged as … well as unpledged assets. We find that observationally riskier borrowers, as measured by the bank through the ex ante risk …

We analyze spectral risk measures with respect to comparative risk aversion following Arrow (1965) and Pratt (1964) on … widely-applied spectral Arrow-Pratt-measure is not a consistent measure of Arrow-Pratt-risk aversion. A decision maker with a … decision maker with a smaller spectral Arrow-Pratt-measure. We further show how a proper measure of Arrow-Pratt-risk aversion …

risk that prevail in (semi-)arid rangelands due to low and highly uncertain rainfall. We present a modeling analysis of how …

We study risk attitudes, ambiguity attitudes, and time preferences of 661 children and adolescents, aged ten to …) and are less likely to save money. Experimental measures for risk and ambiguity attitudes are only weak predictors of …

collateral: doubling the number of cosigners halves the probability of arrears for high risk borrowers. We then distinguish …We investigate how well social collateral does as an alternative to traditional physical collateral. We do so by … between different theories of social collateral. Cosigners may be effective as a monitoring device (a borrower would pay to …