This research studies the perception of the risks associated with impaired driving - probability of being apprehended or of having an accident - and the relation between the perception of risks and driving behavior. The most important determinants of perceptual biases are age, an accumulation of...

An important research question examined in the credit risk literature focuses on the proportion of corporate yield spreads attributed to default risk. This topic is reexamined in the light of the different issues associated with the computation of transition and default probabilities obtained...

The identification of information problems in different markets is a challenging issue in the economic literature. This paper performs tests of residual asymmetric information in the French automobile insurance market for the 1995-1997 period. This market is characterized by the presence of a...