Before information φ arrives, market observers must be uncertain whether the stock price conditioned on φ will be … condition of efficient markets, it is shown under the mean-variance CAPM that information which makes the future value of a firm … general, information that allows better discrimination between firms leads some firms to have higher costs of capital and …

This textbook incorporates the author's previous book "The Economics of Uncertainty and Insurance" and extends it with … the addition of several new chapters on risk sharing, asymmetric information, adverse selection, signaling and moral … asymmetric information in contractual relationships. It is richly illustrated with 150 figures. It is suitable for both self …

This paper investigates how information uncertainty, measured through variation in the informativeness of the public … information environment, shapes the organizational design choices of firms. I posit that, when faced with higher uncertainty about … decisions and vertical integration, thereby facilitating access to information about these industries. Consistent with this …

and car insurance using data from the UK. The main empirical results are: ? higher labor income risk induces a higher … demand for car insurance. ? the effects of increases in labor income risk after 1979 seem to be more than offset by a more …

and car insurance using data from the UK. The main empirical results are: - higher labor income risk induces a higher … demand for car insurance. - the effects of increases in labor income risk after 1979 seem to be more than offset by a more …

uniform. We analyze how climate risks could be reduced via an insurance scheme at the global scale across regions and quantify …

drive the demand for risk reduction, and some to alter both. Our findings suggest that 30 percent of all insurance payments …

insurance markets. "The Economics of Uncertainty and Insurance" is relatively short (220 pages) and richly illustrated with 80 …