themselves and will never willingly put themselves at risk. They rely on three articles of faith handed down by generations of …, they must consider the psychological and cultural factors influencing the claimant's risk perception, assessment, and …

Risk sharing arrangements diminish individuals’ vulnerability to probabilistic events that negatively affect their … financial situation. This is because risk sharing implies redistribution, as lucky individuals support the unlucky ones. We … hypothesize that responsibility for risky choices decreases individuals’ willingness to share risk by dampening redistribution …

Inspired by the behavioral theory of the firm and prospect theory, a large empirical literature has examined the … association between performance and organizational risk taking. Such associations have often been attributed to the influence of … performance on risk attitudes. This paper shows that a simple learning model, which only assumes that organizations avoid …

Bailouts increase moral hazard and exacerbate risk taking (strategic effect). However, they also decrease the … probability of actual failure, thereby increase firm value, which in turn decreases the individual incentive to take risk (value … in concentrated markets, but firms take less risk in fragmented markets in the presence of bailouts. The overall effect …

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 …

In this paper, we study the worst-case distortion risk measure when information about distortion functions is partially … independent of the risk to be measured and the corresponding worst-case distortion risk measure is a combination of several VaR … distortion functions is defined by the riskiness of one single risk, the explicit form of the worst-case distortion function is …

In this paper, we study the worst-case distortion risk measure when information about distortion functions is partially … independent of the risk to be measured and the corresponding worst-case distortion risk measure is a combination of several VaR … distortion functions is defined by the riskiness of one single risk, the explicit form of the worst-case distortion function is …

. This allows me to explore the impact of hedge funds’ prototypical contract structure on their dynamic risk allocations and … on asset prices in general. One implication of the model is that risk taking varies around a fund’s distance to its high … high-water marks take on significantly greater levels of risk. This increased risk is accomplished in part by investing in …