extended version of the consumption risk-sharing hypothesis. The test explicitly incorporates self-production and uses natural … disasters such as avian influenza, droughts, and floods to identify the effectiveness of market and non-market risk …-sharing mechanisms. With these additional treatments, full risk sharing cannot be rejected, which suggests the presence of omitted …

relative risk estimates can vary from zero to infinity as the hypothesized values of key parameters of the measurement error …

We develop a model of pandemic risk management and firm valuation. We introduce aggregate transmission shocks into an …