This paper tests the existence of a risk premium in the one-month and three-month forward exchange markets.

This paper presents an experimental investigation of risk taking in the domain of losses. The experiments are conducted with students in several universities during introduction rudiments to expected utility theory and risk behaviour. The results are partly compatible with expected utility...

The aims of this study are (i) to identify the main determinants of the demand for French Premiere Division football matches using all matches played during the 1997/1998 season, (ii) to estimate a team-specific probability of success, and (iii) to propose an updating process for the intra-match...

The paper reviews the evolution in insurance economics over the past 25 years, by first recalling the situation in 1973, then presenting the developments and new approaches which flourished since then. The paper argues that these developments were only possible because steady advances were made...

This article examines, under the Dual Theory of Choice (Yaari (1987)), the classical results and their extensions on self-insurance, self-protection and market insurance obtained by Ehrlich and Becker (1972) under the expected utility hypothesis. In particular, background risk, non-reliability,...

Severe natural catastrophes in the early nineties have brought about a lack of financial capacity in the catastrophe line of the global reinsurance market. The finance industry reacted to this situation by issuing innovative products designed to spread the excess risk more widely among...

In this paper, we present a version of the multivariate risk premium for additive risks and the necessary and sufficient conditions to compare global attitudes towards multivariate risk. The link between this risk premium and well-known partial multivariate risk premiums is then investigated.