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The Effects of Changes in Risk on Risk Taking: A Survey
16 references·7 citing·33 second hop
The Effects of Changes in Risk on Risk Taking: A Survey (2013)The Effects of Changes in Risk on Risk Ta…Multiplicative Background Risk (2006)Multiplicative Background RiskRisk Vulnerability and the Tempering Effect of Background Risk (1996)Risk Vulnerability and the Te…Changes in Background Risk and Risk Taking Behavior (1996)Changes in Background Risk an…The Comparative Statics of Changes in Risk Revisited (1995)The Comparative Statics of Ch…Risk: Evaluation, Management and Sharing (1994)Risk: Evaluation, Management …Stochastic Dominance and Expected Utility: Survey and Analysis (1992)Stochastic Dominance and Expe…Standard Risk Aversion (1991)Standard Risk AversionStrong Increases in Risk and Their Comparative Statics (1985)Strong Increases in Risk and …Optimal Insurance in Incomplete Markets (1983)Optimal Insurance in Incomple…Risk Aversion with Random Initial Wealth (1981)Risk Aversion with Random Ini…Good News and Bad News: Representation Theorems and Applications (1981)Good News and Bad News: Repre…Risk Aversion in the Small and in the Large (1976)Risk Aversion in the Small an…On the theory of the competitive firm under price uncertainty (1971)On the theory of the competit…Increasing risk II: Its economic consequences (1971)Increasing risk II: Its econo…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…On the properties of high-order non-monetary measures for risks (2018)On the properties of high-ord…On the Properties of Non-Monetary Measures for Risks (2017)On the Properties of Non-Mone…On the Strictly Decreasing Utility (Value) Premium of Friedman-Savage (2014)On the Strictly Decreasing Ut…The Theory of Insurance Demand (2013)The Theory of Insurance DemandBackground Risk in the Principal-Agent Model (2013)Background Risk in the Princi…The Economics of Risk: A (Partial) Survey (2012)The Economics of Risk: A (Par…Espérance d’utilité et nouveaux modèles de choix dans le risque : une connivence cachée (2001)Espérance d’utilité et nouvea…COUNTERSPECULATION, AUCTIONS, AND COMPETITIVE SEALED TENDERS (1961)The Market for "Lemons": Quality Uncertainty and the Market Mechanism (1970)Moral Hazard and Observability (1979)An Analysis of the Principal-Agent Problem (1983)Aggregation and Linearity in the Provision of Intertemporal Incentives (1987)The Theory of Incentives: The Principal-Agent Model (2001)On the measurement of inequality (1970)On Economic Inequality (1973)A theory of anticipated utility (1982)Theory of games and economic behavior (2019)Precautionary Saving in the Small and in the Large (1989)Strategic Asset Allocation (2002)Risk Aversion in the Laboratory (2008)Underinvestment in a Profitable Technology: The Case of Seasonal Migration in Bangladesh (2014)Essays in the Theory of Risk-Bearing. (1972)Risk-Taking Behavior in the Wake of Natural Disasters (2012)CAPITAL ASSET PRICES: A THEORY OF MARKET EQUILIBRIUM UNDER CONDITIONS OF RISK* (1964)Prospect theory: An analysis of decision under risk (1988)From stochastic dominance to mean-risk models: Semideviations as risk measures (1999)Markowitz Revisited: Mean-Variance Models in Financial Portfolio Analysis (2001)Dual Stochastic Dominance and Related Mean-Risk Models (2002)Stochastic specification of production functions and economic implications (1978)Cash Crop Production, Food Price Volatility, and Rural Market Integration in the Third World (1992)Rising Food Prices, Food Price Volatility, and Social Unrest (2014)Optimal rules for ordering uncertain prospects (1975)Net Health Benefits (1998)Stochastic Volatility for Lévy Processes (2003)Portfolio Choice and Asset Prices: The Importance of Entrepreneurial Risk (2000)The Role of Social Capital in Financial Development (2004)Financial Intermediation and Delegated Monitoring (1984)Well-being : the foundations of hedonic psychology (1999)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)
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References

  • 1964Risk Aversion in the Small and in the Large4,964 cited
  • 1976Risk Aversion in the Small and in the Large4,655 cited
  • 1981Good News and Bad News: Representation Theorems and Applications3,198 cited
  • 1969Rules for Ordering Uncertain Prospects1,757 cited
  • 1971On the theory of the competitive firm under price uncertainty1,450 cited
  • 1971Increasing risk II: Its economic consequences1,082 cited
  • 1991Standard Risk Aversion851 cited
  • 1992Stochastic Dominance and Expected Utility: Survey and Analysis843 cited
  • 1996Risk Vulnerability and the Tempering Effect of Background Risk765 cited
  • 1996Changes in Background Risk and Risk Taking Behavior353 cited
  • 1983Optimal Insurance in Incomplete Markets284 cited
  • 1981Risk Aversion with Random Initial Wealth235 cited
  • 1995The Comparative Statics of Changes in Risk Revisited149 cited
  • 1985Strong Increases in Risk and Their Comparative Statics110 cited
  • 1994Risk: Evaluation, Management and Sharing110 cited
  • 2006Multiplicative Background Risk108 cited

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Cited by

  • 2013The Theory of Insurance Demand155 cited
  • 2018On the properties of high-order non-monetary measures for risks10 cited
  • 2013Background Risk in the Principal-Agent Model9 cited
  • 2012The Economics of Risk: A (Partial) Survey3 cited
  • 2001Espérance d’utilité et nouveaux modèles de choix dans le risque : une connivence cachée2 cited
  • 2017On the Properties of Non-Monetary Measures for Risks2 cited
  • 2014On the Strictly Decreasing Utility (Value) Premium of Friedman-Savage0 cited