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Risk Aversion and the Value of Risk to Life
16 references·3 citing·42 second hop
Risk Aversion and the Value of Risk to Life (2010)Risk Aversion and the Value of Risk to Li…Adjusting the Value of a Statistical Life for Age and Cohort Effects (2008)Adjusting the Value of a Stat…The Value of a Statistical Life: A Critical Review of Market Estimates Throughout the World (2003)The Value of a Statistical Li…The Value of a Statistical Life: A Critical Review of Market Estimates throughout the World (2003)The Value of a Statistical Li…Does the value of a statistical life vary with age and health status? Evidence from the US and Canada (2003)Does the value of a statistic…“Economics and Psychology”? The Case of Hyperbolic Discounting* (2003)“Economics and Psychology”? T…Understanding Consumption (1992)Understanding ConsumptionSubstitution, Risk Aversion, and the Temporal Behavior of Consumption and Asset Returns: An Empirical Analysis (1991)Substitution, Risk Aversion, …The value of changes in life expectancy (1988)The value of changes in life …The Effect of Liquidity Constraints on Consumption: A Cross-Sectional Analysis (1985)The Effect of Liquidity Const…Risk Aversion in the Small and in the Large (1976)Risk Aversion in the Small an…Risk aversion with many commodities (1974)Risk aversion with many commo…Optimal Growth with Intertemporally Dependent Preferences (1973)Optimal Growth with Intertemp…Essays in the Theory of Risk-Bearing. (1972)Essays in the Theory of Risk-…Time Preference and the Penrose Effect in a Two-Class Model of Economic Growth (1969)Time Preference and the Penro…Uncertain Lifetime, Life Insurance, and the Theory of the Consumer (1965)Uncertain Lifetime, Life Insu…Risk Aversion in the Small and in the Large (1964)Risk Aversion in the Small an…Institutions and Development: The Interaction Between Trade Regime and Political System (2005)Institutions and Development:…Consumption and Keynesian Fiscal Policy (2004)Consumption and Keynesian Fis…Capital Tax Competition with Heterogeneous Firms and Agglomeration Effects (2004)Capital Tax Competition with …On the Consumer's Lifetime Allocation Process (1964)Debt, Deficits, and Finite Horizons (1985)Precautionary Saving and Social Insurance (1995)Monetary Policy According to HANK (2018)An Intertemporal Capital Asset Pricing Model (1973)The equity premium: A puzzle (1985)Substitution, Risk Aversion, and the Temporal Behavior of Consumption and Asset Returns: A Theoretical Framework (1989)Investor Psychology and Asset Pricing (2001)Prospect Theory and Asset Prices (2001)Myopia and Inconsistency in Dynamic Utility Maximization (1955)Loss Aversion in Riskless Choice: A Reference-Dependent Model (1991)Golden Eggs and Hyperbolic Discounting (1997)Tying Odysseus to the Mast: Evidence From a Commitment Savings Product in the Philippines (2006)Commitment Devices (2010)Consumption and Saving: Models of Intertemporal Allocation and Their Implications for Public Policy (2010)Hedonic Prices and Implicit Markets: Product Differentiation in Pure Competition (1974)The Penn World Table (Mark 5): An Expanded Set of International Comparisons, 1950-1988 (1991)Tax incidence when individuals are time-inconsistent: the case of cigarette excise taxes (2003)The green book : appraisal and evaluation in central government (2003)The Quantity and Quality of Life and the Evolution of World Inequality (2005)The role of public health improvements in health advances: The twentieth-century United States (2005)Five‐Hundred Life‐Saving Interventions and Their Cost‐Effectiveness (1995)The Determinants of Mortality (2006)On Modeling and Interpreting the Economics of Catastrophic Climate Change (2009)The rate of return to the HighScope Perry Preschool Program (2009)Co-Integration and Error Correction: Representation, Estimation, and Testing (1987)Testing for a Unit Root in Time Series Regression (1988)Endogenous Technological Change (1990)Dynamic Econometrics (1995)Consumption Over the Life Cycle (2002)From Physical to Human Capital Accumulation: Inequality and the Process of Development (2004)Finite-Sample Properties of Some Alternative GMM Estimators (1996)By Force of Habit: A Consumption‐Based Explanation of Aggregate Stock Market Behavior (1999)Strategic Asset Allocation (2002)Moral Hazard and Observability (1979)Prospect theory: An analysis of decision under risk (1988)Toward a knowledge‐based theory of the firm (1996)Financial Intermediation and Delegated Monitoring (1984)Well-being : the foundations of hedonic psychology (1999)On the measurement of inequality (1970)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
  • 1965Uncertain Lifetime, Life Insurance, and the Theory of the Consumer3,204 cited
  • 2003The Value of a Statistical Life: A Critical Review of Market Estimates Throughout the World2,152 cited
  • 1991Substitution, Risk Aversion, and the Temporal Behavior of Consumption and Asset Returns: An Empirical Analysis1,703 cited
  • 1992Understanding Consumption1,484 cited
  • 1973Optimal Growth with Intertemporally Dependent Preferences593 cited
  • 2003“Economics and Psychology”? The Case of Hyperbolic Discounting*506 cited
  • 2003The Value of a Statistical Life: A Critical Review of Market Estimates throughout the World483 cited
  • 1969Time Preference and the Penrose Effect in a Two-Class Model of Economic Growth401 cited
  • 1974Risk aversion with many commodities394 cited
  • 1988The value of changes in life expectancy381 cited
  • 2008Adjusting the Value of a Statistical Life for Age and Cohort Effects363 cited
  • 2003Does the value of a statistical life vary with age and health status? Evidence from the US and Canada

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310 cited
  • 1985The Effect of Liquidity Constraints on Consumption: A Cross-Sectional Analysis306 cited
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    • 2005Institutions and Development: The Interaction Between Trade Regime and Political System77 cited
    • 2004Consumption and Keynesian Fiscal Policy53 cited
    • 2004Capital Tax Competition with Heterogeneous Firms and Agglomeration Effects49 cited