objectiveenvironmental risk. In Korea, an historically polluted watersupply has created citizen resistance to using tap water … theacceptable risk. We hypothesized that the irrational aversion tousing tap water is a consequence of inconsistencies between …

andEastern Europe. In particular, it establishes alink between a risk-averse investor's amount ofinformation regarding the extent … enterprise, i.e., bid. As theinvestor obtains a more precise estimate of theuncertain cleanup costs, the investor facesless risk …

past gains and losses on investors’ risk aversion. The paper first presents a simple model examining how heterogeneous … changes in investors’ risk aversion affects portfolio decisions and stock prices. Second, the paper shows empirically that …

We provide empirical evidence that risk sharing enhances specialization in production. To the best of our knowledge … market integration (a measure of risk sharing) within each of these groups of regions: the EC countries, the non-EC OECD … Latin America). Finally, we perform a regression of the specialization index on the degree of risk sharing, controlling for …

-market imperfections and risk aversion may play a role in explaining the inverse productivity relationship. Smaller farmers use more labor …. Risk aversion may cause smaller farmers to over-apply labor to production, but it also fails to fully explain the inverse …

equity premium and the risk free rate and to develop intuition that is useful for understanding asset pricing in more …