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A market for weather risk ? Worlds in conflict and compromising.
Huault, Isabelle; Rainelli-Le Montagner, Hélène - Université Paris-Dauphine
In this paper we study the development of the market for weather derivatives in Europe. We show that weather derivatives conceived as financial products by their promoters have difficulties finding end-users. We describe the attempts of market promoters using a framework drawn from economic...
Persistent link: https://www.econbiz.de/10008520033
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A market for weather risk ? Worlds in conflict and compromising.
Huault, Isabelle; Rainelli-Le Montagner, Hélène - Université Paris-Dauphine
In this paper we study the development of the market for weather derivatives in Europe. We show that weather derivatives conceived as financial products by their promoters have difficulties finding end-users. We describe the attempts of market promoters using a framework drawn from economic...
Persistent link: https://www.econbiz.de/10008532725
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A Market for Weather Risk ? Conflicting Metrics, Attempts at Compromise and Limits to Commensuration.
Huault, Isabelle; Rainelli-Weiss, Hélène - HAL - 2011
derivatives in Europe. We approach this issue through an in-depth qualitative study in which we focus on the commensuration … derivatives market as a meeting place between different metrics, our results highlight the failure of a process of commensuration …, we use the theoretical framework provided by Boltanski and Thévenot (2006) to enrich the literature on commensuration …
Persistent link: https://www.econbiz.de/10009650047
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Adopting management philosophies : management gurus, public organizations, and the conomies of worth
Elk, Sam van; Trenholm, Susan; Lee, Robert H.; Ferlie, Ewan - In: Public management review 25 (2023) 7, pp. 1309-1332
Persistent link: https://www.econbiz.de/10014321252
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Betting on Hitler: The value of political connections in Nazi Germany
Voth, Joachim; Ferguson, Thomas - Department of Economics and Business, Universitat … - 2008
This paper examines the value of connections between German industry and the Nazi movement in early 1933. Drawing on previously unused contemporary sources about management and supervisory board composition and stock returns, we find that one out of seven firms, and a large proportion of the...
Persistent link: https://www.econbiz.de/10008558987
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Discounting the Future: on Climate Change, Ambiguity Aversion and Epstein-Zin Preferences
Olijslagers, Stan; van Wijnbergen, Sweder - 2019
We focus on the effect of preference specifications on the current day valuation of future outcomes. Specifically, we analyze the effect of risk aversion, ambiguity aversion and the elasticity of intertemporal substitution on the willingness to pay to avoid climate change risk. The first part of...
Persistent link: https://www.econbiz.de/10012114783
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Disaster resilience and asset prices
Pagano, Marco; Wagner, Christian; Zechner, Josef - 2021
Using the pandemic as a laboratory, we show that asset markets assign a time- varying price to firms' disaster risk exposure. In 2020 the cross-section of realized and expected stock returns reflected firms' different exposure to the pandemic, as measured by their vulnerability to social...
Persistent link: https://www.econbiz.de/10012705619
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The Social Cost of Carbon under Climate Volatility Risk
Lin, Xu; van Wijnbergen, Sweder - 2023
We calculate the social cost of carbon (SCC) under stochastic climate volatility resulting from uncertainty about future climate risk regimes where weather extremes are becoming more frequent and intense. Using a stochastic dynamic integrated climate-economy model where representative agents are...
Persistent link: https://www.econbiz.de/10014321805
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Disaster Resilience and Asset Prices
Pagano, Marco - 2020
This paper investigates whether security markets price the effect of social distancing on firms' operations. We document that firms that are more resilient to social distancing significantly outperformed those with lower resilience during the COVID-19 outbreak, even after controlling for the...
Persistent link: https://www.econbiz.de/10012833771
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Climate Change News Risk and Corporate Bond Returns
Huynh, Thanh - 2020
We examine whether climate change news risk is priced in corporate bonds. We estimate bond covariance with climate change news index and find that bonds with a higher climate change news beta earn lower future returns, consistent with the asset pricing implications of demand for bonds with high...
Persistent link: https://www.econbiz.de/10012836848