Risk aversion is a fundamental trait shaping how individuals, firms and policymakers respond to uncertain outcomes. It encapsulates the preference for certain outcomes over gambles with equivalent ...

Often we confront risks: opportunities where we have some probability of gaining or losing something and have to decide whether or not to accept the opportunity. The simplest risks are financial. For ...

We estimate the risk attitudes of a large sample of individuals from various fishing communities along the west coast of South Africa. Female fishers and rights holders are found to be more risk ...

We price equity-linked life insurance with surrender guarantees and account for risk preferences in the form of risk-averse and loss-averse policyholders in continuous time. Risk-averse policyholders ...