individual financial risk taste changes over time with the background macroeconomic and financial conditions, as well as personal … and subjective exposure to portfolio risk. Considering six different self-assessed facets, we find that risk appetite is … higher during periods of economic growth and lower during periods of recession. Risk taste is however unrelated to time when …

expectations and risk perceptions) and preferences (risk tolerance) as a result of their personal return and risk experiences. Past … returns positively impact return expectations and risk tolerance, and negatively impact risk perceptions. Realized risk …, however, has no effect. That is, even in a highly volatile stock-market period in which risk appears very salient, investors …

the internal margin, i.e., the strength, of loss aversion, and empirically study the relation between income risk …-income population of Bogotá, characterized by limited financial education and subject to substantial income risk. In line with the … theoretical predictions, we find that an increase in income risk is associated with higher savings for loss-averse individuals …

due to a distinct effect associated with the drop in income risk. The effect is driven by the changing comovement between …

We exploit the US Survey of Consumer Finances from 1998 to 2010 to study households' portfolio risk. We compare … alternative measures of ex-ante risk, based on a financial portfolio including deposits, bonds and stocks, or a broader portfolio … also including real estate, business wealth and related debt. The measures provide different rankings of portfolio risk …

and adverse selection. Index based risk transfer minimizes these obstacles by not fully insuring the risk. However, such … incompleteness generates basis risk, that is the risk that claims do not match losses. This paper analyzes the upside basis risk … (receiving a claim without a loss) and downside basis risk (having a loss but no claim) to determine a partial order ranking of …

the internal margin, i.e., the strength, of loss aversion, and empirically study the relation between income risk …-income population of Bogotá, characterized by limited financial education and subject to substantial income risk. In line with the … theoretical predictions, we find that an increase in income risk is associated with higher savings for loss-averse individuals …

labor-income risk can explain much of this risk-taking pattern. Uncontrollable labor-income risk stresses middle …, middle-income households reduce (controllable) financial risk. Richer households, having less pressure, can afford more risk …-taking. The poor take low risk because they avoid jeopardizing their subsistence consumption. …