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function takes the form of cubic parabola, where the risk aversion behavior ends at the saddle point of the comprehensive … the ambiguity of the departure from risk-neutrality. This ambiguity can produce the ordinary risk seeking behavior as well … as mathematical catastrophes of Veblen-effect’s imprudence and over prudence of family altruism. The comeback to risk …
Persistent link: https://www.econbiz.de/10011267888
attention has been devoted to understand how risk and uncertainty influence drivers’ behaviours in parking decision. This paper … risk and uncertainty. …
Persistent link: https://www.econbiz.de/10011266116
In this chapter I argue that as a response to the introduction of capital requirements in the form of risk weights … that the new optimum has a lower risk. The effect of the regulation depends on several things, most importantly the … correlation between individual investments, investor preferences and the relative size of risk weights. …
Persistent link: https://www.econbiz.de/10005789350
This book presents a simple, yet very powerful, conceptual framework, which can be used to estimate market sizes, prices and their interdependency for new products based on historical market data for existing products in related areas. Even in situations where insufficient data is available the...
Persistent link: https://www.econbiz.de/10005789447
conditional independence. The paper gives a taxonomy of issues of confounding, a parameterization by risk or safety, and develops …
Persistent link: https://www.econbiz.de/10005789473
This work is a PhD dissertation, written at the Department of Economics, McGill University. The thesis offers a new framework for inflation as a process of restructuring. Contrary to existing theories of inflation, which tend to take structure and institutions as given for the purpose of...
Persistent link: https://www.econbiz.de/10005789620
negative part of the risk and hold cash to hedge against it. Second, cash balances are held to use chances that are created by … the positive part of the risk equation. Next, cash balances are the result of the operating needs of the firm. In this … article, we analyze the relation between these types of cash balances and risk. This article also contains propositions for …
Persistent link: https://www.econbiz.de/10005789659
Complexity theory is designed to bring order out of a rough-and- tumble world, something close to every insurance professional's or actuary's heart. Whether applied in the laboratory or as part of a mathematical model, it can do wonderful things . But in the real world it's just what its name...
Persistent link: https://www.econbiz.de/10005789667
The paper focuses on forests management strategies for natural hazards of nonindustrial owners, in the case where the forest provides nontimber services. We introduce a basic two-period model where the private owner manages natural hazards on his forest thanks to the accumulation of savings on...
Persistent link: https://www.econbiz.de/10005789828
ex post consumption smoothing, employment uncertainty influences risk-averse households’ crop choice decisions-- they …
Persistent link: https://www.econbiz.de/10005789931