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Risk Aversion and Self-Insurance-cum-Protection
13 references·16 citing·34 second hop
Risk Aversion and Self-Insurance-cum-Protection (1998)Risk Aversion and Self-Insurance-cum-Prot…Market Insurance, Self-Insurance, and Self-Protection (1992)Market Insurance, Self-Insura…An Analysis of the Principal-Agent Problem (1992)An Analysis of the Principal-…Risk Aversion and the Propensities for Self-Insurance and Self-Protection (1990)Risk Aversion and the Propens…Choosing Between Risky Prospects: The Characterization of Comparative Statics Results, and Location Independent Risk (1989)Choosing Between Risky Prospe…Self-insurance, self-protection and increased risk aversion (1985)Self-insurance, self-protecti…An Analysis of the Principal-Agent Problem (1983)An Analysis of the Principal-…Some Stronger Measures of Risk Aversion in the Small and the Large with Applications (1981)Some Stronger Measures of Ris…On Moral Hazard and Insurance (1979)On Moral Hazard and InsuranceMoral Hazard and Observability (1979)Moral Hazard and ObservabilityRisk Aversion in the Small and in the Large (1976)Risk Aversion in the Small an…Market Insurance, Self-Insurance, and Self-Protection (1972)Market Insurance, Self-Insura…Rules for Ordering Uncertain Prospects (1969)Rules for Ordering Uncertain …Risk Aversion in the Small and in the Large (1964)Risk Aversion in the Small an…Prevention and Precaution (2025)Prevention and PrecautionThe Self-Protection Problem (2024)The Self-Protection ProblemThe economics of self-protection (2024)The economics of self-protect…Subsidizing risk prevention (2021)Subsidizing risk preventionWho Should Exert More Effort? Risk Aversion, Downside Risk Aversion and Optimal Prevention (2019)Who Should Exert More Effort?…Prudence and Precautionary Effort (2017)Prudence and Precautionary Ef…Optimal self-protection in two periods: On the role of endogenous saving (2017)Optimal self-protection in tw…Tradeoffs for Downside Risk-Averse Decision-Makers and the Self-Protection Decision (2016)Tradeoffs for Downside Risk-A…Precautionary self-insurance-cum-protection (2016)Precautionary self-insurance-…The Increasing Convex Order and the Trade–off of Size for Risk (2015)The Increasing Convex Order a…Risk and choice: A research saga (2013)Risk and choice: A research s…Prevention and Precaution (2013)Prevention and PrecautionRisk Aversion, Downside Risk Aversion and Paying for Stochastic Improvements (2011)Risk Aversion, Downside Risk …Background risk and self-protection (2011)Background risk and self-prot…Screening risk-averse agents under moral hazard: single-crossing and the CARA case (2005)Screening risk-averse agents …Comparative Mixed Risk Aversion: Definition and Application to Self-Protection and Willingness to Pay (2004)Comparative Mixed Risk Aversi…The Theory of Syndicates (1968)Essays in the Theory of Risk-Bearing. (1972)Markets and Hierarchies: Analysis and Antitrust Implications. (1976)Financial Intermediation and Delegated Monitoring (1984)Agency Costs, Net Worth, And Business Fluctuations (1988)On the measurement of inequality (1970)On Economic Inequality (1973)A theory of anticipated utility (1982)Theory of games and economic behavior (2019)Aspects of the Theory of Risk-Bearing. (1966)Theory of Financial Decision Making. (1988)Cash Crop Production, Food Price Volatility, and Rural Market Integration in the Third World (1992)The Economic Theory of Agency: The Principal's Problem. (1973)Good News and Bad News: Representation Theorems and Applications (1981)Incomplete Contracts and Renegotiation (1988)Managerial Incentive Problems: A Dynamic Perspective (1999)The Theory of Incentives: The Principal-Agent Model (2001)Optimal contracts and competitive markets with costly state verification (1979)Risk Sharing and Incentives in the Principal and Agent Relationship (1979)The judgment proof problem (1986)Moral Hazard and Nonmarket Institutions: Dysfunctional Crowding Out or Peer Monitoring? (1991)Testing for Adverse Selection in Insurance Markets (2009)Economic Welfare and the Allocation of Resources for Invention (1962)A Behavioral Theory of Firm Growth: Sequential Attention to Size and Performance Goals (2008)Crime, Punishment, and the Market for Offenses (1996)Economic foundations of cost-effectiveness analysis (1997)Equality of Opportunity (1998)Prospect theory: An analysis of decision under risk (1988)Well-being : the foundations of hedonic psychology (1999)Using Cost Observation to Regulate Firms (1986)Incentives in Principal-Agent Relationships (1991)The Tenuous Trade‐off between Risk and Incentives (2002)THE VALUATION OF RISK ASSETS AND THE SELECTION OF RISKY INVESTMENTS IN STOCK PORTFOLIOS AND CAPITAL BUDGETS**This paper is another in a series of interrelated theoretical and statistical studies of corporate financial and investment policies being made under grants from the Rockefeller Foundation, and more recently the Ford Foundation, to the Harvard Business School. The generous support for this work is most gratefully acknowledged. The author is also much indebted to his colleagues Professors Bishop, Christenson, Kahr, Raiffa, and (especially) Schlaifer, for extensive discussion and commentary on an earlier draft of this paper; but responsibility for any errors or imperfections remains strictly his own.[Professor Sharpe's paper, “Capital Asset Prices: A Theory of Market Equilibrium Under Conditions of Risk” (Journal of Finance, September 1964) appeared after this paper was in final form and on its way to the printers. My first section, which parallels the first half of his paper (with corresponding conclusions), sets the algebraic framework for sections II, III and VI, (which have no counterpart in his paper) and for section IV on the equilibrium prices of risk assets, concerning which our results differ significantly for reasons which will be explored elsewhere. Sharpe does not take up the capital budgeting problem developed in section V below.] (1975)The arbitrage theory of capital asset pricing (1976)
this work references cited by second hop

References

  • 1979Moral Hazard and Observability8,358 cited
  • 1964Risk Aversion in the Small and in the Large4,964 cited
  • 1976Risk Aversion in the Small and in the Large4,655 cited
  • 1983An Analysis of the Principal-Agent Problem2,127 cited
  • 1992An Analysis of the Principal-Agent Problem1,913 cited
  • 1969Rules for Ordering Uncertain Prospects1,757 cited
  • 1972Market Insurance, Self-Insurance, and Self-Protection1,397 cited
  • 1992Market Insurance, Self-Insurance, and Self-Protection1,060 cited
  • 1979On Moral Hazard and Insurance712 cited
  • 1981Some Stronger Measures of Risk Aversion in the Small and the Large with Applications450 cited
  • 1985Self-insurance, self-protection and increased risk aversion335 cited
  • 1990Risk Aversion and the Propensities for Self-Insurance and Self-Protection227 cited
  • 1989Choosing Between Risky Prospects: The Characterization of Comparative Statics Results, and Location Independent Risk142 cited

Cited by

  • 2005Screening risk-averse agents under moral hazard: single-crossing and the CARA case92 cited
  • 2004Comparative Mixed Risk Aversion: Definition and Application to Self-Protection and Willingness to Pay

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60 cited
  • 2017Optimal self-protection in two periods: On the role of endogenous saving56 cited
  • 2013Prevention and Precaution55 cited
  • 2019Who Should Exert More Effort? Risk Aversion, Downside Risk Aversion and Optimal Prevention36 cited
  • 2013Risk and choice: A research saga28 cited
  • 2016Tradeoffs for Downside Risk-Averse Decision-Makers and the Self-Protection Decision20 cited
  • 2011Risk Aversion, Downside Risk Aversion and Paying for Stochastic Improvements19 cited
  • 2011Background risk and self-protection18 cited
  • 2016Precautionary self-insurance-cum-protection15 cited
  • 2017Prudence and Precautionary Effort12 cited
  • 2015The Increasing Convex Order and the Trade–off of Size for Risk12 cited
  • 2021Subsidizing risk prevention10 cited
  • 2024The Self-Protection Problem9 cited
  • 2024The economics of self-protection8 cited
  • 2025Prevention and Precaution8 cited