can undertake an active portfolio management strategy by investing in both risk-free and risky assets. Using a two … in each period. -- Consumption and labor taxation ; equivalence ; risk …

extent observed team decisions under risk are actually consistent with the principles of rational choice, specifically the … individuals, teams accumulate significantly more expected value at a significantly lower total risk (measured in SD). We introduce … a team decision algorithm, excess-risk vetoing, that combines simple majority voting with the right to veto alternatives …

Systemic weather risk is a major obstacle for the formation of private (non- subsidized) crop insurance. This paper … dependencies between multivariate random variables. The estimation procedure is applied to weather data in Germany. Our results … at a national scale. Thus the possibility to reduce risk exposure by increasing the trading area of the insurance is …