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Ideal economics? A “non-ideal” economics approach has been proposed, which considers the possibility of arrangement infringements. It gives promises for both solving fundamental problems of economic theory and creation of new directions and fields of research. The approach application in...
Persistent link: https://www.econbiz.de/10005124942
and objectives for the first stages of insurance data analysis have been sketched out. Scale hypotheses, insurance and …
Persistent link: https://www.econbiz.de/10005124993
A quadratic discrete time probabilistic model, for optimal portfolio selection in (re-)insurance is studied. For …
Persistent link: https://www.econbiz.de/10005125679
The changing business environment in non-life insurance and reinsurance has raised the need for new quantitative … based on large-scale computer simulations for the integrated financial modeling of non-life insurance and reinsurance …
Persistent link: https://www.econbiz.de/10005561063
This paper studies a class of general equilibrium economies in which the individuals' endowments depend on privately observed effort choices and the financial markets are endogenous. The environment is modeled as a two-stage game. Individuals first make strategic financial-innovation decisions....
Persistent link: https://www.econbiz.de/10005135122
Punitive damages are one of the most controversial aspects of tort litigation and have been the subject of various … litigation processes. In particular, Polinsky (1997) argues that the uncertainty and unpredictability that punitive damage claims …. With one of the largest and most comprehensive data sets of tort litigation (over 25,000 cases filed from 1994 through 1997 …
Persistent link: https://www.econbiz.de/10005076635
The widespread ennoblement of the Spanish bourgeoisie in the sixteenth century has been traditionally considered one of the main causes of Iberian decline. I document and quantify the surge in ennoblement through a new time series of nobility cases preserved in the Archive of the Royal Chancery...
Persistent link: https://www.econbiz.de/10005125846
This is an Invited paper for the World Congress of the Econometric Society held in Seattle in August 2000. We discuss the strong connections between auction theory and "standard" economic theory, and argue that auction-theoretic tools and intuitions can provide useful arguments and insights in a...
Persistent link: https://www.econbiz.de/10005135125
Target is a real time gross settlement (RTGS) large value payment network operated by European central banks that … eliminates systemic risk. Euro1 is a privately operated delayed net settlement (DNS) network that reduces substantially systemic …
Persistent link: https://www.econbiz.de/10005125885
pan-European financial infrastructure for payments and securities clearing and settlement. Central counterparty clearing …’s securities market infrastructure – clearing and settlement. Because of the importance of its role, a CCP must have sound risk …-benefit analysis in a Finnish/Nordic-Baltic clearing and settlement infrastructure that incorporates a CCP solution. This is an updated …
Persistent link: https://www.econbiz.de/10005134670