It is often suggested that the larger the size of risk, the larger our willingness to pay (WTP) for a given reduction … of this risk. We show that this is not true in general in the expected utility model. We examine under which conditions … the WTP for a marginal reduction in the size of risk is increasing. We also examine the closely related question of …

This paper presents an experimental investigation of risk taking in the domain of losses. The experiments are conducted … with students in several universities during introduction rudiments to expected utility theory and risk behaviour. The …. They also show similarities in the risk perception of students across different countries, i.e., a useful validation of …

designed to spread the excess risk more widely among international investors (risk securitization). The paper reviews these … developments and stresses their significance with respect to the economic theory of risk exchanges. Special attention is devoted to …

We examine the statistical determinants of transfer risk using probit estimation and an estensive data set of over 300 …

This paper discusses the use of dynamic modelling in consumer credit risk assessment. It surveys the approaches and …