We consider two players facing identical discrete-time bandit problems with a safe and a risky arm. In any period, the risky arm yields either a success or a failure, and the first success reveals the risky arm to dominate the safe one. When payoffs are public information, the ensuing free-rider...

We consider two players facing identical discrete-time bandit problems with a safe and a risky arm. In any period, the risky arm yields either a success or a failure, and the first success reveals the risky arm to dominate the safe one. When payoffs are public information, the ensuing free-rider...

We consider two players facing identical discrete-time bandit problems with a safe and a risky arm. In any period, the risky arm yields either a success or a failure, and the first success reveals the risky arm to dominate the safe one. When payoffs are public information, the ensuing free-rider...

Using data for 2002-2005 on a representative survey of French farms (FADN-RICA), we investigate the different factors that lead farmers to insure against crop risk. Our analysis takes into account a mix of both standard individual, financial and agricultural criteria. Cross-sectional and...

This paper shows that pricing catastrophe bonds boils down to computing first-passage time distributions of jump-diffusion processes. It derives a generic valuation expression by assuming that the jump risk is not systematic and then performs simulations, which can stress the sensitivity of...

Die Messung und Bewertung von Katastrophenrisiken stellt sich als sehr bedeutsames Gebiet dar, da sie einen großen Teil des gesamten Risikokapitals der Unternehmen binden. Aus diesem Grund soll der vorliegende Aufsatz zwei konkrete Ansätze zur Modellierung von Katastrophenschäden am Beispiel...

Until recently, the meteorological disturbances to the management of economic entities had to be simply accepted; however, several financial tools have been developed, with which we can cancel out the adverse influence of meteorological events. This paper will intend to examine 2 types of tools,...

Die Messung und Bewertung von Katastrophenrisiken stellt sich als sehr bedeutsames Gebiet dar, da sie einen großen Teil des gesamten Risikokapitals der Unternehmen binden. Aus diesem Grund soll der vorliegende Aufsatz zwei konkrete Ansätze zur Modellierung von Katastrophenschäden am Beispiel...

This paper considers the potential for securitizing index-based insurance products that transfer weather and natural disaster risks from lower income countries. The paper begins with a brief overview of why markets for natural disaster risks are important in lower income countries and a review...

This paper shows that pricing catastrophe bonds boils down to computing first-passage time distributions of jump-diffusion processes. It derives a generic valuation expression by assuming that the jump risk is not systematic and then performs simulations, which can stress the sensitivity of...