The paper examines in the laboratory how risk-taking situations are affected by the conditions of observing other …

Due to the lack of descriptive information about the effectiveness of risk management activities, decision-makers often … examine risk management decisions. We simulate individuals' decisions over 50 time periods and analyze how distributional … properties of different risk management instruments influence subjects' propensity to invest in self-insurance or self …

Risk management is now present in many economic sectors. This paper investigates the role of risk management in … financial intermediaries whose primary role in the economy is risk pooling and risk bearing. The risk pooling and risk bearing … functions performed by insurers are the primary determinants of the need for risk management. The main goal of this paper is to …

This paper reviews household property risk management and estimates normatively optimal choice under theoretical … assumptions. Although risk retention limits are common in the financial planning industry, estimates of optimal risk retention … losses differently from other wealth losses, leading to wealth-reducing excess risk transfer. Possible theoretical …

Expectiles (EVaR) are a one-parameter family of coherent risk measures that have been recently suggested as an …

Insurance companies can leverage the regulatory requirement of a "Risk Management Own Risk and Solvency Assessment …" (RMORSA) to improve risk-to-reward decision-making in general, and business planning in particular. This paper profiles …

We test the hypothesis that practicing Enterprise Risk Management (ERM) reduces firms' cost of reducing risk. Adoption … contribute most to the total risk of the firm, and optimize the evaluation and selection of available hedging instruments. We … hypothesize that these advantages allow ERM-adopting firms to produce greater risk reduction per dollar spent. Our hypothesis …

Dependence modelling and estimation is a key issue in the assessment of portfolio risk. When measuring extreme risk in … terms of the Value-at-Risk, the multivariate normal model with linear correlation as its natural dependence measure is by no … the data. -- Risk management ; extreme risk assessment ; multivariate models ; dependence function …