This paper shows that individual risk-type uncertainty can prevent reforms of the insurance system that would benefit the majority of individuals. We consider the case where a subset of the population is uncertain of their risk type and contrast two insurance regimes; the status quo of mandated...

We examine financial constraints and forms of finance used for investment, by analysing survey data on 157 large privatised companies in Hungary and Poland for the period 1998 – 2000. The Bayesian analysis using Gibbs sampling is carried out to obtain inferences about the sample companies’...

The first essay developed a respondent model of Bayesian updating for a double-bound dichotomous choice (DB-DC) contingent valuation methodology. I demonstrated by way of data simulations that current DB-DC identifications of true willingness-to-pay (WTP) may often fail given this respondent...