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equations and two market prices of risk, respectively, uncertainty. Furthermore, we examine the connection to short rate models …
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We study three fundamental components of financial agency settings: Perception and communication of investment profiles, the interaction of agents’ and clients’ preferences, and the role of (non-)monetary incentives. The perception of investment profile terminology is very heterogeneous,...
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Combining a standard measure of concern about low relative wealth and a standard measure of relative risk aversion … leads to a novel explanation of variation in risk-taking behavior identified and documented by social psychologists and … individual’s relative risk aversion decreases when he becomes more relatively deprived as a result of an increase in the average …
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Activity is slowing down temporarily, and downside risks have increased again. The global expansion remains unbalanced. Growth in many advanced economies is still weak, considering the depth of the recession. In addition, the mild slowdown observed in the second quarter of 2011 is not reassuring
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downside risk for the world economy. As a result, the global outlook for 2016-17 has worsened, despite the better …
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