banks can extract market power rents. We show that more bank competition results in lower economy-wide risk, lower bank … allocation and optimal levels of bank risk and capitalization. These results are at variance with those obtained by a large … systemic risk in the economy. …

.The game theoretic solution predicts (assuming risk neutrality) that actors are willing to accept wages below their outside … actors have uncertain risk aversion.The parameters of the game are calibrated to match data on 99 movies for 1989 available …

risk, even if banks fully internalize the costs of negative outcomes. In this way, banks can reduce the surplus they have … unambiguously lead to reduced risk-taking by their top traders. …

This paper generalizes the theory of irreversible investment under uncertainty by allowing for risk averse investors in … the absence of com-plete markets.Until now this theory has only been developed in the cases of risk neutrality, or risk … price that distinguishes price regions in which it is optimal for a risk averse investor to invest and price regions in …

positive relationship between risk taking and retirement fl exibility is weakened - and under some conditions even turned … around - if not only capital-market risks but also productivity risks are considered. Productivity risk in combination with a … labour income, reducing the willingness of consumers to bear risk. Moreover, it turns out that general-equilibrium effects …