... whether **relative** **risk** **aversion** varies with ...of **relative** **risk** **aversion** varying with wealth over time after correcting those two mis-identification ...

36

... investor’s **relative** **risk** **aversion** is bounded above and below by γ and γ respectively, we show that given n observed options, the upper (lower) option bound is given by a pricing kernel that has ...

25

... of the coefficient of **relative** **risk** **aversion** tends to have a negative bias due to small sample problem. He also showed that the other estimates in the equation are not biased. In the next sections we ...

24

... of **relative** **risk** **aversion** equal to 6 is willing to pay for switching from MLR to one of the dynamic strategies and is reported in annual basis ...

35

... the **risk** free ...the **relative** **risk** **aversion** and time preference rate for several economies using the theoretical framework developed ...median **relative** **risk** **aversion** ...

16

... Constant **Relative** **Risk** **Aversion** (CRRA) utility function was considered, vola- tility was assumed to follow the Heston model with constant interest rate, while How to cite this paper: Okonkwo, ...

10

... The number of investigations dealing with the impact of nominal variables on economic welfare is large and still increasing; see, for instance: Pugsley and Rubinton (2016), Shi (2015), Soriano-Morales et al. (2015), and ...

19

... of **relative** **risk** **aversion** from the intertemporal elasticity of substitution, is ...constant **relative** **risk** **aversion** ...substitution, **relative** **risk** **aversion** ...

24

... of **relative** **risk** **aversion**, which may be below or above ...RGDP **risk** even when both the borrower and the lender have the same **relative** **risk** **aversion** that is below or above ...

23

... In this paper we propose a model of nonrenewable resource extraction along the lines of the classical Hotelling model and his successors. We adopt the dynamic programming techniques in order to extract the equilibrium ...

25

... of **relative** **risk** **aversion** (CRRA) implied by a switch between choosing option A and option B under the assumption that subjects have prospect-theory preferences where they weigh ...

29

... upon **risk** **aversion**. While the effect of wealth upon **risk** **aversion** is very well understood, it seems curious that no analysis of the effects of prices has been done, given that the indirect ...

5

... prices and a fat tailed consumption distribution from a tractable incomplete- market dynamic general equilibrium model and show in a Monte Carlo study that there are potential pitfalls to this practice of averaging: in ...

34

... of **relative** **risk** **aversion** is because it has been reported that the degree of **relative** **risk** **aversion** in Japan is relatively higher than that in the ...of **risk** ...

24

... We solve the model by taking ﬁ rst-order Taylor approximations of the equations around a deterministic steady state. As in most DSGE models, the model is calibrated to match certain stylized facts of the US economy in a ...

41

... loss **aversion** should be viewed as not only a result of the utility function’s curvature, but also as a consequence of the difference in which probabilities of gains and probabilities of losses are distorted, then ...

32

... background **risk** y e in …nal wealth. The background **risk** is drawn from a compact interval Y R ; it can take both positive and negative values and is statistically independent of x: e 5 The probability ...

12

... Theoretically, two fundamentally different explanations for the fall in the labour share exist. The first claims that technological progress favored capital return, while the second identifies institutional changes as ...

34

... background **risk** on the group’s investment ...background **risk** y e that raises the representative agent’s expected marginal utility under the optimal choice ; ...

10

... Prospect theory believes that value judgments of decision-makers are associated with reference point. Based on this intuition, this paper analyzes the impacts of reference point as well as its change on individual value ...

9