returns over long periods of time. However, the approach to risk adjustment has typically been rather cursory, and has tended …

catastrophic in their consequences. Therefore, the elaboration of effective risk-management plans, aimed at formulating viable … management of environmental risks - environmental pollution risk and natural catastrophe risk in particular. It discusses the … issue of insurability of such risks, analyses the increasing risk of liability for environmental pollution and the …

risk-free interest rates. In fact, when the model is calibrated to U.S. consumption growth data, average risk premia and … levels of risk aversion. Even ruling out pessimistic beliefs, recursive learning inflates the equity premium without …