Insurance induces a well-known tradeoff between the welfare gains from risk protection and the welfare losses from … the tradeoff simultaneously, allowing for a relationship between moral hazard and risk protection. An important feature of …, and stoplosses that alter moral hazard as well as risk protection relative to no insurance. I illustrate the properties of …

information concerning product risk, and mandatory and voluntary disclosure rules are equivalent …

dominate, in that public releases increase uncertainty about fundamentals. In some cases, public releases can create or …

This paper proposes a simple index of the welfare significance of uncertainty in the public goods resulting as policy … function of the coefficient of relative risk aversion, the variance in the measure of environmental service associated with …

) cases, these robust policies are more aggressive than the optimal policies absent model uncertainty. The specific robust … policies depend strongly on the formation of model uncertainty used, and we make some suggestions about which formulation is …

International consumption risk sharing studies have largely ignored their models' counterfactual implications for asset … returns although these returns incorporate direct market measures of risk. In this paper, we modify a canonical risk … variance of equity returns and the risk-free rate requires persistent consumption risk, leading to three main findings: (1 …