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<p>This paper examines a framework where the time of a future event (either good or bad) is random and where a decision maker can affect it by a costly action, either bringing forward or postponing the event. In this framework we compare optimal choices when different elements are risky and show how different aspects of preferences are relevant in determining these choices. Applications to self-protection and to investment in R&amp;D are also provided.</p>

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Changing the timing of risk

  • 期刊论文

  • 出版模式：

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  • 发表日期：

    2026年7月28日

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  • Mario Menegatti

摘要

This paper examines a framework where the time of a future event (either good or bad) is random and where a decision maker can affect it by a costly action, either bringing forward or postponing the event. In this framework we compare optimal choices when different elements are risky and show how different aspects of preferences are relevant in determining these choices. Applications to self-protection and to investment in R&D are also provided.