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Risk and Choice: A Research Saga
Gollier, Christian; Hammitt, James; Treich, Nicolas - Institut d'Économie Industrielle (IDEI), Toulouse … - 2013
As in any research field, risk theory has its important questions, results, and paradoxes, as well as its seminal papers and key authors. Louis Eeckhoudt has been a key author in the field of risk theory. To celebrate his many contributions and continue the development of theories of decision...
Persistent link: https://www.econbiz.de/10010968958
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Risk and choice: A research saga
Gollier, Christian; Hammitt, James; Treich, Nicolas - In: Journal of Risk and Uncertainty 47 (2013) 2, pp. 129-145
The economic theory of decision making under risk has seen remarkable advances over the 50 years since Pratt’s (1964) characterization of risk aversion under expected utility. We review developments in three key areas to which Louis Eeckhoudt has made significant contributions: (1) increases...
Persistent link: https://www.econbiz.de/10010987821
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Duality and equilibrium prices in economics of uncertainty
Ben-Israel, Adi; Ben-Tal, Aharon - In: Computational Statistics 46 (1997) 1, pp. 51-85
was studied elsewhere, and applied to production, investment and insurance problems. Here we study the RCEB P , and apply …) andoptimal insurance coverage, a problem stated as a game between the insurance company (setting the premiums) and the buyer of … insurance, maximizing the RCE of his coverage. Copyright Physica-Verlag 1997 …
Persistent link: https://www.econbiz.de/10010847778
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Do Migrants Send Remittances as a Way of Self-Insurance? Evidence from a Representative Immigrant Survey
Batista, Catia; Umblijs, Janis - Institute for the Study of Labor (IZA) - 2014
Do migrants send remittances as a way of obtaining insurance? While this motive is theoretically suggested in the … a "purchase of self-insurance" motive to remit, we also provide evidence of more remittances sent by risk averse …
Persistent link: https://www.econbiz.de/10010884255
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Sharing of Climate Risks across World Regions
Emmerling, Johannes - Fondazione ENI Enrico Mattei (FEEM) - 2014
uniform. We analyze how climate risks could be reduced via an insurance scheme at the global scale across regions and quantify …
Persistent link: https://www.econbiz.de/10010941054
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Duality and equilibrium prices in economics of uncertainty
Ben-Israel, Adi; Ben-Tal, Aharon - In: Mathematical Methods of Operations Research 46 (1997) 1, pp. 51-85
<Subscript>U</Subscript> was studied elsewhere, and applied to production, investment and insurance problems. Here we study the … stock levels and order sizes) andoptimal insurance coverage, a problem stated as a game between the insurance company … (setting the premiums) and the buyer of insurance, maximizing the RCE of his coverage. Copyright Physica-Verlag 1997 …
Persistent link: https://www.econbiz.de/10010999798
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Risk and Choice: A Research Saga
Gollier, Christian; Hammitt, James; Treich, Nicolas - Toulouse School of Economics (TSE) - 2013
As in any research field, risk theory has its important questions, results, and paradoxes, as well as its seminal papers and key authors. Louis Eeckhoudt has been a key author in the field of risk theory. To celebrate his many contributions and continue the development of theories of decision...
Persistent link: https://www.econbiz.de/10011004782
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Playing It Safe with Low Conditional Fees versus Being Insured by High Contingent Fees
Emons, Winand - Department Volkswirtschaftlehre, Universität Bern - 2004
Under contingent fees the attorney gets a share of the judgment; under conditional fees he gets an upscale premium if the case is won which is, however, unrelated to the adjudicated amount. We compare conditional and contingent fees in a framework where lawyers choose between a safe and a risky...
Persistent link: https://www.econbiz.de/10005212457
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Buyer Uncertainty and Two-Part Pricing: Theory and Applications
Png, I. P. L.; Wang, Hao - In: Management Science 56 (2010) 2, pp. 334-342
We consider two-part pricing of a service offered to risk-averse buyers subject to demand uncertainty. Buyers subscribe to the contract before resolution of the uncertainty. Sellers set two-part prices that trade off between insuring buyers against the uncertainty and the ex post deadweight loss...
Persistent link: https://www.econbiz.de/10009214844
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Transfer programs under alternative insurance schemes and liquidity constraints
Bianconi, Marcelo - In: The Journal of International Trade & Economic Development 20 (2011) 2, pp. 175-197
We consider a dynamic allocation problem under alternative insurance and capital market regimes and proper risk … consumption, investment, expected growth of output and consumption and the fair price of insurance of the risky technology. The … differences depend upon the regime of insurance to the risky technology, the regime of capital markets and the proper separate …
Persistent link: https://www.econbiz.de/10009219546