This paper analyses the choice between risk-sharing and risk-pooling income-contingent loans for higher education of … risk-averse individuals who differ in their ability to benefit from education and inherited wealth. The paper identifies … risk-pooling income-contingent loan is preferred. The paper then discusses the implications on participation and voting …

degree of pessimism of the representative agent is the mean of the individual ones weighted by their index of absolute risk …

At first glance, risk management appears to be a topic original to business economics. However, global crises such as … as the resulting energy policy issues show that governmental risk management needs to be systematically integrated into … for state risk management and to identify instruments and institutions that, taken together, could be capable of reducing …