Many developing countries consider financial institutions that are locally incorporated or even state-owned monopolies an essential element of their economic and political independence. This cross-sectional study of developing countries presents some empirical tests of the relationship between...

Determinants of risk attitudes of individuals are of great interest in the growing area of behavioral economics that focuses on the individual attributes, psychological or otherwise, that shape common financial and investment practices. The purpose of this paper is to review the empirical...

The purpose of this paper is to examine whether people treat all forms of uncertainty in the same way. Studies investigating known-risk gambles and ambiguous gambles have systematically used the urn context. Little systematic research has investigated differences in expressed attitude as a...

This article examines the existence of a cyclical pattern in property-liability insurance for the US over the recent period 1982 to 2001 in connection with the international price of reinsurance during the same period. The fluctuations in the price of reinsurance during the past 20 years have...