-contribution (DC) plans that typically contain a minimum benefit guarantee (DC-MB). Risk management techniques must be used to control …-funding is very effective in controlling guarantee costs in traditional DB plans, it is highly ineffective for DC-MB plans. This … the S&P500. Calculations show that the true risk-adjusted value of unfunded guarantees in a realistic DC-MB plan equals 40 …

emissions. In the near-term, R&D investments, either by government or the private sector, can bring down the costs of these … technologies under uncertainty. Specifically, given two technologies, one with lower costs at present, but the other with greater …

large commercial office buildings, but in school and hospital construction, nonunion contractors have lower costs at all … higher than those for union contractors because the burden of higher union costs is shifted to buyers …

fatality probability. Estimation results further suggest that the fatality risk is even higher if the striking vehicle is a … light truck (SUV, pickup truck, or minivan). We calculate that the value of the external risk generated by the gain in fleet …

costs driven by changes in factor prices than to increases in marginal cost precipitated by expansions in output. We explore …

for the hypothesis of organizational forgetting, a more general learning model where unit costs are similarly dependent on …

I develop a new theory of marketing costs and introduce it into a model of trade with product differentiation and firm …

tradable tasks and use it to study how falling costs of offshoring affect factor prices in the source country. We identify a …

effect on non-contractible quality. The model is applied to understanding the costs and benefits of prison privatization …