and Stiglitz 'model. In this case, we show that the optimal contract exhibits a deductible for the high health risk type … low health risk type. …

We consider the problem of optimal risk sharing of some given total risk between two economic agents characterized by … law-invariant monetary utility functions or equivalently, law-invariant risk measures. We first prove existence of an … optimal risk sharing allocation which is in addition increasing in terms of the total risk. We next provide an explicit …

The last five years have witnessed a great momentum in the research into measures of financial risk. After many years …-friendly solutions have been proposed. These new measures of risk should be of great interest for investors, financial institutions as … perspective across a wide selection of topics, ranging from the critique of some currently used methods, like Value at Risk, to …

of assets with short-selling where there is risk and ambiguity. Agents have Bewley’s incomplete preferences. As an … of the risk adjusted sets of probabilities intersect. The more risk averse, the more ambiguity averse the agents, the …

committee’s meetings. The risk of losing face, which is not felt in the same way by the attendees depending on their status, is … a central motivation for this phenomenon. Directors perceive a risk that their impressions are cynically managed. Then … reflexive social control: the actors who report to the committee criticize themselves. Risk leads them to self-discipline; Trust …