Exact(17)
This result seems to be mainly driven by the risk averse individuals.
The result of over-saving behavior seems to be mainly driven by the risk averse individuals.
Moreover, more risk averse individuals are represented by "curvier" utility functions.
This increases appetitive motivation so that cooperative behaviour is facilitated for risk averse individuals.
This result seems to be mainly driven by the risk averse individuals, which are the most frequent type.
Suppose a population of risk averse individuals who are identical except in their probability of falling sick that is private information.
Similar(43)
Thus, as y goes up, u′ decreases by more for a more risk averse individual, which, ceteris paribus, results in a smaller marginal utility gained from both legal and illegal activities (LHS of 14 becomes smaller).
What's more, the scientists demonstrated that the most loss-averse individuals showed the biggest drop-off in performance when the stakes were raised.
For risk-averse individuals, not only the level of health but also its variability is important.
Increasing the representation of competition-averse individuals does not alter overall output.
Quite generally, it helps risk-averse individuals to optimize lifetime consumption, permitting them to reduce precautionary saving (see [32] and [33]).
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