Recent advances in AI represent improvements in prediction. We examine how decision-making and risk management … strategies change when prediction improves. The adoption of AI may cause substitution away from risk management activities used …

for the development of public-private partnerships, as recognized in November 2002 when the Terrorism Risk Insurance Act … of 2002 (TRIA) was passed. This paper shows, however, that the temporary insurance system established by TRIA is neither … current level of demand for insurance coverage has remained low and we discuss some factors that may contribute to it. After …

autarky, but also partial and full insurance can obtain, depending on the relative patience of agents and financial … intermediaries. Insurance can be provided because in an equilibrium contract an up-front payment effectively locks in the agent with …

estimation. We derive novel asymptotic properties for several of these models. To improve out-of-sample prediction accuracy and …