scholarly journals On the Retirement Effect of Inheritance: Heterogeneity and the Role of Risk Aversion

2019 ◽  
Author(s):  
Bertrand Garbinti ◽  
Simon Georges‐Kot
Keyword(s):  
Risk Aversion

scholarly journals Welfare Consequences of Information Aggregation and Optimal Market Size

2017 ◽  
Vol 9 (4) ◽  
pp. 303-323 ◽  
Author(s):  
Kei Kawakami
Keyword(s):  
Asymmetric Information ◽  
Risk Aversion ◽  
Risk Sharing ◽  
Information Aggregation ◽  
Market Size ◽  
Positive Externality ◽  
Trading Model ◽  
Welfare Implications ◽  
The Right

We analyze the welfare implications of information aggregation in a trading model where traders have both idiosyncratic endowment risk and asymmetric information about security payoffs. The optimal market size balances two forces: (i) the risk-sharing role of markets, which creates a positive externality amongst traders, against (ii) the information-aggregation role of prices, which leads to prices that are more correlated with security payoffs, thereby undermining the hedging function of markets. Our analysis indicates that a market with infinitely many traders may not be the right welfare benchmark in the presence of risk aversion and information aggregation. (JEL D43, D62, D82, D83)

The Role of Global Risk Aversion in Explaining Sovereign Spreads

Economía ◽  
2007 ◽  
Vol 7 (1) ◽  
pp. 125-155 ◽  
Author(s):  
Alicia. García-Herrero ◽  
Alvaro. Ortiz Saravia
Keyword(s):  
Risk Aversion ◽  
Global Risk ◽  
Sovereign Spreads

scholarly journals The role of transaction costs and risk aversion when selecting between one and two regimes for portfolio models

2018 ◽  
Vol 26 (6) ◽  
pp. 516-521 ◽  
Author(s):  
Emmanouil Platanakis ◽  
Athanasios Sakkas ◽  
Charles Sutcliffe
Keyword(s):  
Risk Aversion ◽  
Transaction Costs
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