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Persistent link: https://www.econbiz.de/10011751047
This paper investigates the effect of adverse selection on the private annuity market in a model with two periods of retirement. In order to introduce the existence of limited-time pension insurance, we assume that for each period of retirement separate contracts can be purchased. Demand for the...
Persistent link: https://www.econbiz.de/10011541030
fund managers are more conservative the liquidity requirement has to be strengthened while the solvency one relaxed. Higher …
Persistent link: https://www.econbiz.de/10009230899
Persistent link: https://www.econbiz.de/10003503830
There is an emerging consensus that carbon emissions must be limited. An attractive approach to promoting carbon reductions is to encourage reductions in deforestation. But any such strategy must confront a basic problem: agents that might be induced to reduce their actions which would reduce...
Persistent link: https://www.econbiz.de/10011855609
This paper analyses the formation of international environmental agreements (IEAs) under uncertainty, focusing on the role of learning and risk aversion. It bridges two strands of literature: one focused on the role learning for the success of IEA formation when countries are risk neutral and...
Persistent link: https://www.econbiz.de/10010234539
This paper investigates the effect of adverse selection and price competition on the private annuity market in a model with two retirement periods. In this framework annuity companies can offer contracts with different payoffs over the periods of retirement. Varying the time structure of the...
Persistent link: https://www.econbiz.de/10011397919
Persistent link: https://www.econbiz.de/10011628767
This paper incorporates publication uncertainty in a game between researchers and journal editors and examines its effects on quantity and quality of published research. A stylized differential Stackelberg game between journal editors and academic authors is considered, where authors seek to...
Persistent link: https://www.econbiz.de/10011560859
Economic theory suggests that the deterrence of deviant behavior is driven by a combination of severity and certainty …
Persistent link: https://www.econbiz.de/10012171815