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Optimal Risk-Sharing and Deductables in Insurance
Aase, Knut K. - Institutt for foretaksøkonomi, Norges Handelshøyskole … - 2006
Risk-sharing in insurance is analyzed, with a view towards explaining the prevalence of deductibles. First we introduce, in a modern setting, the main concepts of the theory of risk-sharing in a group of agents. This theory we apply to the risk-sharing problem between an insurer and an insurance...
Persistent link: https://www.econbiz.de/10005190557
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The Nature of Equilibrium in Macroeconomics: A Critique of Equilibrium Search Theory
Aoki, Masanao; Yoshikawa, Hiroshi - 2008
The standard Walrasian equilibrium theory requires that the marginal value product of production factor such as labor … theory allegedly fills this gap by encompassing apparent disequilibrium phenomena in the neoclassical equilibrium framework … behavior of economic agents. We must seek a new concept of equilibrium different from the standard Walrasian equilibrium in …
Persistent link: https://www.econbiz.de/10010298573
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The nature of equilibrium in macroeconomics: A critique of equilibrium search theory
Aoki, Masanao; Yoshikawa, Hiroshi - In: Economics: The Open-Access, Open-Assessment E-Journal 3 (2009) 2009-37, pp. 1-9
The standard Walrasian equilibrium theory requires that the marginal value product of production factor such as labor … theory allegedly fills this gap by encompassing apparent disequilibrium phenomena in the neoclassical equilibrium framework … behavior of economic agents. We must seek a new concept of equilibrium different from the standard Walrasian equilibrium in …
Persistent link: https://www.econbiz.de/10010299171
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The enterprise is the actual place for the entrepreneurial function in economic theory
Braun, Eduard - 2016
neoclassical equilibrium analysis. They provide the setting of optimal decision making and therein constitute the tacit rationale …
Persistent link: https://www.econbiz.de/10011557916
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The enterprise is the actual place for the entrepreneurial function in economic theory
Braun, Eduard - 2016
neoclassical equilibrium analysis. They provide the setting of optimal decision making and therein constitute the tacit rationale …
Persistent link: https://www.econbiz.de/10011439574
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A Class of Models satisfying a Dynamical Version of the CAPM
Napp, Clotilde; Jouini, Elyès - Université Paris-Dauphine (Paris IX) - 2003
Under a comonotonicity assumption between aggregate dividends and the market portfolio, the CCAPM formula becomes more tractable and more easily testable. In this paper, we provide theoretical justifications for such an assumption.
Persistent link: https://www.econbiz.de/10010905244
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European Economic Integration, WTO Membership, Immigration and Offshoring
Kohler, Wilhelm - World Scientific Publishing Co. Pte. Ltd.
This volume is a collection of papers that apply general equilibrium theory in order to obtain policy relevant insights … dynamic numerical general equilibrium methods to quantify the effects of geographic extension of the European Union, including …
Persistent link: https://www.econbiz.de/10011010990
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No unbounded arbitrage, weak no market arbitrage and no arbitrage price system conditions: The circular results.
Nguyen, Manh-Hung; Ha-Huy, Thai - Théorie Économique, Modélisation, Application … - 2008
Page and Wooders (1996) prove that the no-unbounded-arbitrage (NUBA) condition introduced by Page (1987) is equivalent to the existence of a no arbitrage price (NAPS) when no agent has non-null useless vectors. Al- louch, Le Van and Page (2002) show that their generalized NAPS condition is...
Persistent link: https://www.econbiz.de/10005328323
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The Nature of Equilibrium in Macroeconomics: A Critique of Equilibrium Search Theory
Aoki, Masanao; Yoshikawa, Hiroshi - Institut für Weltwirtschaft (IfW) - 2008
The standard Walrasian equilibrium theory requires that the marginal value product of production factor such as labor … theory allegedly fills this gap by encompassing apparent disequilibrium phenomena in the neoclassical equilibrium framework … behavior of economic agents. We must seek a new concept of equilibrium different from the standard Walrasian equilibrium in …
Persistent link: https://www.econbiz.de/10005083417
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The nature of equilibrium in macroeconomics: A critique of equilibrium search theory
Aoki, Masanao; Yoshikawa, Hiroshi - In: Economics - The Open-Access, Open-Assessment E-Journal 3 (2009), pp. 1-9
The standard Walrasian equilibrium theory requires that the marginal value product of production factor such as labor … theory allegedly fills this gap by encompassing apparent disequilibrium phenomena in the neoclassical equilibrium framework … behavior of economic agents. We must seek a new concept of equilibrium different from the standard Walrasian equilibrium in …
Persistent link: https://www.econbiz.de/10008561108