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Collective risk aversion
16 references·4 citing·34 second hop
Collective risk aversion (2011)Collective risk aversionGroup and individual risk preferences: A lottery-choice experiment with self-employed and salaried workers (2009)Group and individual risk pre…Comparing Small‐Group and Individual Behavior in Lottery‐Choice Experiments (2008)Comparing Small‐Group and Ind…Risk Preference Differentials of Small Groups and Individuals (2007)Risk Preference Differentials…Individual and group decision making under risk: An experimental study of Bayesian updating and violations of first-order stochastic dominance (2007)Individual and group decision…Choice Shifts in Groups: A Decision-Theoretic Basis (2006)Choice Shifts in Groups: A De…Saving, Risk Sharing, and Preferences for Risk (2004)Saving, Risk Sharing, and Pre…Are Groups More (or Less) Consistent Than Individuals? (1999)Are Groups More (or Less) Con…Preference Parameters and Behavioral Heterogeneity: An Experimental Approach in the Health and Retirement Study (1997)Preference Parameters and Beh…The impact of risk sharing on efficient decision (1989)The impact of risk sharing on…Risk Aversion in the Small and in the Large (1976)Risk Aversion in the Small an…Essays in the Theory of Risk-Bearing. (1972)Essays in the Theory of Risk-…Group induced shift toward risk: A critical appraisal. (1971)Group induced shift toward ri…The Theory of Syndicates (1968)The Theory of SyndicatesAspects of the Theory of Risk-Bearing. (1966)Aspects of the Theory of Risk…Risk Aversion in the Small and in the Large (1964)Risk Aversion in the Small an…Social Indifference Curves (1956)Social Indifference CurvesRisk-Taking Behavior and Effects of Framing in Group and Individual Decisions: Evidence from Chamas and Student Subjects in Kenya (2024)Risk-Taking Behavior and Effe…Conversational Agent Dynamics with Minority Opinion and Cognitive Conflict in Small‐Group Decision‐Making (2024)Conversational Agent Dynamics…Conformist social learning leads to self-organised prevention against adverse bias in risky decision making (2021)Conformist social learning le…‘For Richer, For Poorer’: Assortative Mating and Savings Preferences (2016)‘For Richer, For Poorer’: Ass…Experimental Tests of the Endowment Effect and the Coase Theorem (1990)Advances in prospect theory: Cumulative representation of uncertainty (1992)Risk Aversion and Incentive Effects (2002)A cultural explanation of the foreign bias in international asset allocation (2010)Are groups more rational than individuals? A review of interactive decision making in groups (2012)Influence of National Culture on Accounting Conservatism and Risk-Taking in the Banking Industry (2013)What Do Laboratory Experiments Measuring Social Preferences Reveal About the Real World? (2007)z-Tree: Zurich toolbox for ready-made economic experiments (2007)Deciding to decide: Gender, leadership and risk-taking in groups (2011)A Reconsideration of Gender Differences in Risk Attitudes (2014)Judgment under Uncertainty: Heuristics and Biases (1975)Prospect Theory: An Analysis of Decision under Risk (1979)Prospect theory: An analysis of decision under risk (1988)Boys will be Boys: Gender, Overconfidence, and Common Stock Investment (2001)Risk as feelings. (2001)INDIVIDUAL RISK ATTITUDES: MEASUREMENT, DETERMINANTS, AND BEHAVIORAL CONSEQUENCES (2011)Belief in the law of small numbers. (1971)Subjective probability: A judgment of representativeness (1972)Availability: A heuristic for judging frequency and probability (1973)Individual Behavior and Group Membership: Comment (2009)How do people update? The effects of local weather fluctuations on beliefs about global warming (2012)Moral Hazard and Observability (1979)Optimal contracts and competitive markets with costly state verification (1979)Signaling in Retrospect and the Informational Structure of Markets (2002)Lifetime Portfolio Selection under Uncertainty: The Continuous-Time Case (1969)On the measurement of inequality (1970)Decision Making within the Household (1976)Real National Income (1976)Personality Psychology and Economics (2011)The New Institutional Economics: Taking Stock, Looking Ahead (2000)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
  • 1972Essays in the Theory of Risk-Bearing.3,991 cited
  • 1997Preference Parameters and Behavioral Heterogeneity: An Experimental Approach in the Health and Retirement Study2,399 cited
  • 1966Aspects of the Theory of Risk-Bearing.1,888 cited
  • 1968The Theory of Syndicates1,178 cited
  • 1956Social Indifference Curves863 cited
  • 2009Group and individual risk preferences: A lottery-choice experiment with self-employed and salaried workers199 cited
  • 2007Risk Preference Differentials of Small Groups and Individuals190 cited
  • 2007Individual and group decision making under risk: An experimental study of Bayesian updating and violations of first-order stochastic dominance175 cited
  • 2004Saving, Risk Sharing, and Preferences for Risk126 cited
  • 1999Are Groups More (or Less) Consistent Than Individuals?114 cited
  • 1971Group induced shift toward risk: A critical appraisal.109 cited
  • 2008Comparing Small‐Group and Individual Behavior in Lottery‐Choice Experiments104 cited
  • 2006Choice Shifts in Groups: A Decision-Theoretic Basis61 cited

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  • 1989The impact of risk sharing on efficient decision25 cited
  • Cited by

    • 2016‘For Richer, For Poorer’: Assortative Mating and Savings Preferences15 cited
    • 2021Conformist social learning leads to self-organised prevention against adverse bias in risky decision making4 cited
    • 2024Risk-Taking Behavior and Effects of Framing in Group and Individual Decisions: Evidence from Chamas and Student Subjects in Kenya1 cited
    • 2024Conversational Agent Dynamics with Minority Opinion and Cognitive Conflict in Small‐Group Decision‐Making1 cited