exogenous risk and delegation. That is, we show that only if exogenous risk is sufficiently large, the risk-neutral principal … may prefer to delegate authority over decisions to the risk-averse agent. Intuitively, for incentive reasons, the … principal may optimally want to allow the agent to reduce his risk exposure. Nevertheless, even endogenous risk may be higher …

in the type of degree studied can explain an additional 8.4% of the male-female pay gap. Risk-augmented earnings …

We analyze the role of risk-sharing institutions in transitions to modern economies. Transitions requires individual …-level risk-taking in pursuing productivity-enhancing activities including using and developing new knowledge. Individual …-level, idiosyncratic risk implies that distinct risk-sharing institutions - even those providing the same level of insurance - can lead to …

stochastic production process in energy use. Special attention is given to the factors that increase the risk or variation of … more to the increase in the mean energy demand than to the reduction in the level of risk. It is recommended that …

stochastic production process in energy use. Special attention is given to the factors that increase the risk or variation of … more to the increase in the mean energy demand than to the reduction in the level of risk. It is recommended that …

Chilean vendors selling illegal fish. Vendors circumvent penalties through hidden sales and other means, which we track using …

prevents nearly all fish of saleable size from escaping the net, but also traps a large number of fish which are too small to … be sold on the market and are therefore discarded at sea. Our approach relies on readily available data on reported fish … strongly increases the share of small fish in the catch. Using quasi-random variation in nautical patrol as a source of …

in three different aspects of fishing. The first group are fishermen, the second group are fish wholesalers (or traders …

methodology is applied to Norway, for which rich historical data sources exist. Taking careful account of the definition of income …