Risk-return association is one of the major concerns for economics and business disciplines. While the standard … economics and finance theory assume that the sign of the relationship should be positive (individuals are assumed to be risk … adverse), since Bowman (1980) many researchers have found negative or shifting relationship.This study analyses the risk …

We assess alternative presentations of investment risk using a discrete choice experiment which asked subjects to rank … three investment portfolios for retirement savings across nine risk presentation formats and four underlying risk levels …. Using Prospective Theory utility specifications we estimate individual-specific parameters for risk preferences in gains and …