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First Cabin Fares from New York to the British Isles, 1826-1914

Dupont, Brandon - 2016

We present a continuous time series on first cabin passenger fares for ocean travel from New York to the British Isles covering nearly a century of time. We discuss the conceptual and empirical difficulties of constructing such a time series, and examine the reasons for differences between the...

Persistent link: https://www.econbiz.de/10012986306

Should We Drill in the Arctic National Wildlife Refuge? An Economic Perspective

Kotchen, Matthew J. - 2010

This paper provides model-based estimates of the value of oil in Alaska's Arctic National Wildlife Refuge (ANWR). The …

Persistent link: https://www.econbiz.de/10012759996

Probability Assessments of an Ice-Free Arctic : Comparing Statistical and Climate Model Projections

Diebold, Francis X.; Rudebusch, Glenn D. - 2022

The downward trend in the amount of Arctic sea ice has a wide range of environmental and economic consequences … provide statistical forecasts of Arctic sea ice extent during the rest of this century. The best fitting statistical model … global climate models foresee a gradual slowing of Arctic sea ice loss even in scenarios with high carbon emissions. Our long …

Persistent link: https://www.econbiz.de/10014089912

On the Pricing of Intermediated Risks : Theory and Application to Catastrophe Reinsurance

Froot, Kenneth - 2010

We model the equilibrium price and quantity of risk transfer between firms and financial intermediaries. Value-maximizing firms have downward sloping demands to cede risk, while intermediaries, who assume risk, provide less-than-fully-elastic supply. We show that equilibrium required returns...

Persistent link: https://www.econbiz.de/10013135141

The Market for Catastrophe Risk : A Clinical Examination

Froot, Kenneth - 2011

This paper examines the market for catastrophe event risk i.e., financial claims that are linked to losses associated with natural hazards, such as hurricanes and earthquakes. Risk management theory suggests protection by insurers and other corporations against the largest cat events is most...

Persistent link: https://www.econbiz.de/10013117926

Corporate Demand for Insurance : an Empirical Analysis of the U.S. Market for Catastrophe and Non-Catastrophe Risks

Michel-Kerjan, Erwann - 2011

Using a unique dataset of insurance decisions by over 1,800 large U.S. corporations, this study provides the first empirical analysis of firm behavior that compares corporate demand for property and catastrophe insurance (here, terrorism). We combine demand and supply data and apply a...

Persistent link: https://www.econbiz.de/10013120307

The Market for Catastrophe Risk : A Clinical Examination

Froot, Kenneth - 2011

Persistent link: https://www.econbiz.de/10013124399

Rare Disasters, Tail-Hedged Investments, and Risk-Adjusted Discount Rates

Weitzman, Martin - 2012

What is the best way to incorporate a risk premium into the discount rate schedule for a real investment project with uncertain payoffs? The standard CAPM formula suggests a beta-weighted average of the return on a safe investment and the mean return on an economy-wide representative risky...

Persistent link: https://www.econbiz.de/10013098814

Managing Catastrophic Risk

Kunreuther, Howard - 2012

A principal reason that losses from catastrophic risks have been increasing over time is that more individuals and firms are locating in harm's way while not taking appropriate protective measures. Several behavioural biases lead decision-makers not to invest in adaptation measures until after...

Persistent link: https://www.econbiz.de/10013104996

The Market for Catastrophe Risk : a Clinical Examination

Froot, Kenneth - 2012

This paper examines the market for catastrophe event risk -- i.e., financial claims that are linked to losses associated with natural hazards, such as hurricanes and earthquakes. This market is in transition as new approaches for transferring risk are being explored. The paper studies several...

Persistent link: https://www.econbiz.de/10013105897