Are entrepreneurs becoming more risk averse?

Are Women Really More Risk-Averse than Men?

Are the Young Becoming More Disabled? -- Appendix

Are US Industries Becoming More Concentrated?

More than 75% of US industries have experienced an increase in concentration levels over the last two decades. Firms in industries with the largest increases in product market concentration have enjoyed higher profit margins, positive abnormal stock returns, and more profitable M&A deals, suggesting that market power is becoming an important source of value. Lax enforcement of antitrust regulat...

Are People Inequality-Averse, or Just Risk-Averse?

Individuals’ preferences for risk and inequality are measured through choices between imagined societies and lotteries. The median relative risk aversion, which is often seen to reflect social inequality aversion, is between 2 and 3. Most people are also found to be individually inequality-averse, reflecting a willingness to pay for living in a more equal society. Left-wing voters and women are...

Are the Chinese Really More Risk Averse? A Cross-Cultural Comparison of the Risk-Return Relationship

Bowman’s risk-return paradox (1980) suggests that the management’s attitude towards risks and returns changes according to the company’s situation. This paper intends to compare different cultural backgrounds in the context of the same political and economic environments, as well as the same market benchmarks, in order to examine whether Western and Chinese management teams demonstrate the same...