This paper develops a method informed by data and models to recover information about
investor beliefs. Our approach uses information embedded in forward-looking asset prices in …

We study preferences over lotteries in which both the prize and the payment date are
uncertain. In particular, a time lottery is one in which the prize is fixed but the date is random …

Decisions with risky consequences at multiple points in time are driven not only by risk
attitudes and time preferences but also by attitudes toward intertemporal correlation (ie, the …

This paper investigates a novel behavioral feature exhibited by recursive preferences:
aversion to risks that are persistent through time. I introduce a formal notion of correlation …

We run an experiment to elicit preferences over state-contingent timed payouts. We analyze
the data using a newly revealed preference method (building on Nishimura et al., 2017) that …

Decision makers in the real world usually face multiple risky choice problems. For instance,
an investor might need to take care of her investment accounts simultaneously in different …

How does the value of life affect annuity demand? To address this question, we construct a
portfolio choice problem with three key features:(i) agents have access to life‐contingent …

In the evaluation of public policies, a crucial distinction is between plans that involve purely
idiosyncratic risk and those that generate correlated, or aggregate, risk. While natural, this …

We present a theoretical framework to study risk and other-regarding preferences jointly.
The model can explain the main behavioral patterns in the combined domain and is the first …

This paper studies procedures a decision maker adopts to evaluate twodimensional risk.
She might either follow the standard expected utility model and treat risk in different …