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

This paper addresses two questions about the morality of warfare: (1) how much risk must soldiers take to minimize … precautions that expose them to greater risk. In a well-known article, Asa Kasher and Amos Yadlin argue that while soldiers must … correct. Although soldiers may take extra risks on behalf of their own civilians, the minimally acceptable risk for enemy …

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 …

We present a new mechanism for encouraging risk taking within organizations that relies on the provision of decision … insurance to managers. Since insurance increases the likelihood of free riding, we also introduce a technique that mitigates … expected payoff for the firm in spite of its risk-adverse managers …

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 …