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目次

Contents: PART I EXPECTED UTILITY 1. Daniel Bernoulli (1954), `Exposition of a New Theory on the Measurement of Risk', trans. by Louise Sommer, Econometrica, 22 (1), January, 23-36 2. Milton Friedman and L.J. Savage (1948), `The Utility Analysis of Choices Involving Risk', Journal of Political Economy, 56 (4), August, 279-304 3. John W. Pratt (1964), `Risk Aversion in the Small and in the Large', Econometrica, 32 (1-2), January-April, 122-36 4. Michael Rothschild and Joseph Stiglitz (1970), `Increasing Risk: I. A Definition', Journal of Economic Theory, 2 (3), September, 225-43 5. Paul A. Samuelson (1963), `Risk and Uncertainty: The Fallacy of the Law of Large Numbers', Scientia, 57 (6), 1-6 6. Larry G. Epstein and Stephen M. Tanny (1980), `Increasing Generalized Correlation: A Definition and Some Economic Consequences', Canadian Journal of Economics, 13 (1), 16-34 7. Louis Eeckhoudt and Harris Schlesinger (2006), `Putting Risk in its Proper Place', American Economic Review, 96 (1), March, 280-8 8. Christian Gollier and John W. Pratt (1996), `Risk Vulnerability and the Tempering Effect of Background Risk', Econometrica, 64 (5), September, 1109-23 PART II STATIC CHOICES UNDER UNCERTAINTY 9. Charles A. Holt and Susan K. Laury (2002), `Risk Aversion and Incentive Effects', American Economic Review, 92 (5), December, 1644-55 10. Kenneth J. Arrow (1963), `Uncertainty and the Welfare Economics of Medical Care', American Economic Review, 53 (5), December, 941-73 11. Artur Raviv (1979), `The Design of an Optimal Insurance Policy', American Economic Review, 69 (1), March, 84-96 12. Jan Mossin (1968), `Aspects of Rational Insurance Purchasing', Journal of Political Economy, 76 (4), July-August, 533-68 13. Isaac Ehrlich and Gary S. Becker (1972), `Market Insurance, Self-Insurance, and Self-Protection', Journal of Political Economy, 80 (4), July-August, 623-48 14. Robert Wilson (1968), `The Theory of Syndicates', Econometrica, 36 (1), January, 119-32 15. Robert M. Townsend (1994), `Risk and Insurance in Village India', Econometrica, 62 (3), May, 539-91 16. Agnar Sandmo (1971), `On the Theory of the Competitive Firm under Price Uncertainty', American Economic Review, 61 (1), March, 65-73 PART III RISK AND TIME 17. Jacques H. Dreze and Franco Modigliani (1972), `Consumption Decisions Under Uncertainty', Journal of Economic Theory, 5 (3), December, 307-35 18. Kenneth J. Arrow and Anthony C. Fisher (1974), `Environmental Preservation, Uncertainty and Irreversibility', Quarterly Journal of Economics, 88 (2), May, 312-19 19. Robert Pindyck (1991), `Irreversibility, Uncertainty and Investment', Journal of Economic Literature, 29 (3), September, 1110-48 20. Jan Mossin (1968), `Optimal Multiperiod Portfolio Policies', Journal of Business, 41 (2), April, 215-29 21. Paul A. Samuelson (1969), `Lifetime Portfolio Selection by Dynamic Stochastic Programming', Review of Economics and Statistics, 51 (3), August, 239-46 PART IV ASSET PRICING 22. Karl H. Borch (1962), `Equilibrium in a Reinsurance Market', Econometrica, 30 (3), July, 424-44 23. Robert E. Lucas, Jr. (1978), `Asset Prices in an Exchange Economy', Econometrica, 46 (6), November, 1429-46 24. Mark Rubinstein (1974), `An Aggregation Theorem for Securities Markets', Journal of Financial Economics, 1 (3), September, 225-44 25. Rajnish Mehra and Edward Prescott (1985), `The Equity Premium: A Puzzle', Journal of Monetary Economics, 15 (2), March, 145-61 26. Narayana R. Kocherlakota (1996), `The Equity Premium: It's Still a Puzzle', Journal of Economic Literature, 34 (1), March, 42-71 27. Ian Martin (2012), `On the Valuation of Long-Dated Assets', Journal of Political Economy, 120 (2), April, 346-58 28 Robert J. Barro (1989), `Rare Disasters and Asset Markets in the Twentieth Century', Quarterly Journal of Economics, 121 (3), August, 823-66 29. Martin L. Weitzman (2007), `Subjective Expectations and Asset-Return Puzzle', American Economic Review, 97 (4), September, 1102-30 PART V NON-EXPECTED UTILITY 30. Uzi Segal and Avia Spivak (1990), `First Order Versus Second Order Risk Aversion', Journal of Economic Theory, 51 (1), June, 111-25 31. Matthew Rabin (2000), `Risk Aversion and Expected-Utility Theory, A Calibration Theorem' Econometrica, 68 (5), September, 1281-92 32. Menahem E. Yaari (1987), `The Dual Theory of Choice Under Risk', Econometrica, 55 (1), January, 95-115 33. John Quiggin (1982), `A Theory of Anticipated Utility', Journal of Economic Behavior and Organization, 3 (4), December, 323-43 34. Amos Tyversky and Daniel Kahneman (1992), `Advances in Prospect Theory - Cumulative Representation of Uncertainty', Journal of Risk and Uncertainty, 5 (4), October, 297-323 35. Mark J. Machina (1987), `Choice Under Uncertainty: Problems Solved and Unsolved', Journal of Economic Perspectives, 1 (1), Summer, 121-54 36. Faruk Gul (1991), `A Theory of Disappointment Aversion', Econometrica, 59 (3), May, 667-86 37. Larry G. Epstein and Stanley Zin (1991), `Substitution, Risk Aversion and the Temporal Behavior of Consumption and Asset Returns: An Empirical Analysis', Journal of Political Economy, 99 (2), April, 263-86 38. Philippe Weil (1989), `The Equity Premium Puzzle and the Risk-Free Rate Puzzle', Journal of Monetary Economics, 24 (3), November, 401-21 39. Ravi Bansal and Amir Yaron (2004), `Risks for the Long Run: A Potential Resolution of Asset Pricing Puzzles', Journal of Finance, 59 (4), August, 1481-509 40. Yoram Halevy and Vincent Feltkamp (2005), `A Bayesian Approach to Uncertainty Aversion', Review of Economic Studies, 72 (2), April, 449-66 41. Fabio Maccheroni, Massimo Marinacci and Doriana Ruffino (2013), `Alpha as Ambiguity: Robust Mean-Variance Portfolio Analysis', Econometrica, 81 (3), May, 1075-113 Index