Related papers: Price risk aversion vs payoff risk aversion: a gen…

I propose a functional on the space of spectral risk measures that quantifies their ``degree of risk aversion''. This quantification formalizes the idea that some risk measures are ``more risk-averse'' than others. I construct the…

In complex tasks where the reward function is not straightforward and consists of a set of objectives, multiple reinforcement learning (RL) policies that perform task adequately, but employ different strategies can be trained by adjusting…

This paper investigates how gender shapes privacy decision-making in youth smart voice assistant (SVA) ecosystems. Using survey data from 469 Canadian youths aged 16-24, we apply multigroup Partial Least Squares Structural Equation Modeling…

We analyze how retail investors price the credit risk of online P"P consumer loans in a reverse auction framework where personal interaction is absent. The explained interest rate variance is considerably larger than in comparable studies…

Many biological, psychological and economic experiments have been designed where an organism or individual must choose between two options that have the same expected reward but differ in the variance of reward received. In this way,…

This paper presents a method for incorporating risk aversion into existing decision tree models used in economic evaluations. The method involves applying a probability weighting function based on rank dependent utility theory to reduced…

Paired cluster-randomized experiments (pCRTs) are common across many disciplines because there is often natural clustering of individuals, and paired randomization can help balance baseline covariates to improve experimental precision.…

For the first time, we report gender bias in people's choice and use of password managers, through a semi-structured interview ($n=18$) and a questionnaire-based survey ($n=200$, conducted `in the wild'). Not only do women and men prefer…

Reinforcement Learning with Verifiable Rewards (RLVR) demonstrates significant potential in enhancing the reasoning capabilities of Large Language Models (LLMs). However, existing RLVR methods are often constrained by issues such as…

Students face diverse pathways as they journey through undergraduate study. The analysis of student course records can untangle common patterns in course progression, and identify group trends in student outcomes. The current work examines…

The Capital Asset Pricing Model (CAPM) is one of the original models in explaining risk-return relationship in the financial market. However, when applying the CAPM into reality, it demonstrates a lot of shortcomings. While improving the…

While research on applications and evaluations of explanation methods continues to expand, fairness of the explanation methods concerning disparities in their performance across subgroups remains an often overlooked aspect. In this paper,…

This paper is the first to provide causal evidence of gender differences in healthcare utilisation to better understand the male-female health-survival paradox, where women live longer but experience worse health outcomes. Using rich Danish…

We surveyed Australian finance professionals and tested whether there are statistically significant differences in promotional propensity according to gender identity. The findings indicate men and women are equally likely to ask for…

In order to model risk aversion in reinforcement learning, an emerging line of research adapts familiar algorithms to optimize coherent risk functionals, a class that includes conditional value-at-risk (CVaR). Because optimizing the…

Gender bias in artificial intelligence has become an important issue, particularly in the context of language models used in communication-oriented applications. This study examines the extent to which Large Language Models (LLMs) exhibit…

The literature on Inverse Reinforcement Learning (IRL) typically assumes that humans take actions in order to minimize the expected value of a cost function, i.e., that humans are risk neutral. Yet, in practice, humans are often far from…

Determining consumer preferences and utility is a foundational challenge in economics. They are central in determining consumer behaviour through the utility-maximising consumer decision-making process. However, preferences and utilities…

We introduce a pricing kernel with time-varying volatility risk aversion to explain observed time variations in the shape of the pricing kernel. When combined with the Heston-Nandi GARCH model, this framework yields a tractable option…

We address the problem of making a pre-trained reinforcement learning (RL) policy safety-aware by incorporating cost constraints without retraining it from scratch. While costs could be numerically encoded, we assume a more general setting…