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Building on the idea that religious communities provide mutual insurance against some idiosyncratic risks, we argue that religious membership is more valuable in societies exposed to greater common risk. In our empirical analysis we exploit rainfall risk as a source of common economic risk in...
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FOR AGRICULTURE -- 1 Expected Utility as a Paradigm for Decision Making in Agriculture 3 -- Jack Meyer -- 2 Non …-Expected Utility: What Do the Anomalies Mean for 21 -- Risk in Agriculture? -- David E. Buschena -- 3 Ordering Risky Choices41 … Risk Assessment -- David R. Just -- PART II -- CONCEPTUAL ADAPTATIONS OF RISK MODELS FOR AGRICULTURE -- 6 Dual Approaches …
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Recent studies find that idiosyncratic risk (IR) has increased since the 1960's and attribute this to economy wide factors such as the role of the IT revolution. To gain further insights into why IR has increased over time, our paper uses industry level data and firm level data to study if...
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