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Separating Risk Preference and Time Preference
SSRN Electronic Journal, 2012In the studies of decision making under risk and time, an increasingly important question is whether the utility representations should be the same for both circumstances. This study aims to test the separation between risk preference and time preference in a controlled laboratory setting, where subjects make intertemporal allocation decisions under ...
Bin Miao, Songfa Zhong
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Worst-case risk with unspecified risk preferences
Insurance: Mathematics and Economics, 2022zbMATH Open Web Interface contents unavailable due to conflicting licenses.
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Comment on “Risk Preferences Are Not Time Preferences”: Separating Risk and Time Preference
American Economic Review, 2015Andreoni and Sprenger (2012a,b) observe that utility functions are distinct for risk and time preferences, and show that their findings are consistent with a preference for certainty. We revisit this question in an enriched experimental setting in which subjects make intertemporal decisions under different risk conditions. The observed choice behavior
Miao, Bin, Zhong, Songfa
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WIREs Cognitive Science, 2009
AbstractCitizens of Western countries are asked to make an increasing number of decisions that involve risk, from decisions about how much and how to save for their old age to choices among medical treatments and medical insurance plans. At the same time, uncertainty about choice outcomes has gone up as the result of ever faster social, environmental ...
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AbstractCitizens of Western countries are asked to make an increasing number of decisions that involve risk, from decisions about how much and how to save for their old age to choices among medical treatments and medical insurance plans. At the same time, uncertainty about choice outcomes has gone up as the result of ever faster social, environmental ...
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Risk Preferences and Changes in Background Risk
SSRN Electronic Journal, 2007zbMATH Open Web Interface contents unavailable due to conflicting licenses.
Keenan, Donald C. +2 more
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Risk Preferences Around the World
Management Science, 2015We present results from a large-scale international survey on risk preferences conducted in 53 countries. In all countries, we find, on average, an attitude of risk aversion in gains and of risk seeking in losses. The degree of risk aversion shows significant cross-country differences. Moreover, risk attitudes in our sample depend not only on economic
Rieger, Marc Oliver +2 more
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Risk Aversion and Consumer Preferences
Econometrica, 1977The first part of this article integrates the concept of (relative) risk aversion with respect to income (r) with the static analysis of demand for many commodities. Alternative representations of preferences and demand functions, using duality, give rise to many alternative representations and interpretations of r, and to theorems regarding attitudes ...
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ESG preferences, risk and return
European Financial Management, 2020AbstractThere are two primary factors that affect expected returns for companies with high ESG (environmental, social and governance) ratings—investor preferences and risk. Although investor preferences for highly rated ESG companies can lower the cost of capital, the flip side of the coin is lower expected returns for investors.
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Determining risk preferences for pain [PDF]
, 2011 The QALY concept is the commonly used approach in research to evaluate the efficiency of therapies in cost utility analysis. We investigate the risk neutrality assumption for time of the QALY concept: can time be included as a linear factor? Various studies show that this assumption does not hold empirically.
Eike B. Kroll +2 more
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Risk preferences, risk perceptions, and risky food
Food Policy, 2015This paper presents the results of a study that tests the hypothesis that the effect of risk preference on choice is a function of the specific risk-preference measure utilized. In addition, this study tests the hypothesis that the effect of risk preference on choice depends upon its interaction with risk perceptions.
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