A choice model based on utility in a sequence of prospective future health states permits us to generalize the concept of the value of statistical life (VSL). Our representative national survey asks individuals to choose between costly risk-reducing programs and the status quo in randomized...

Purpose – Definitions of pooling effects in insurance companies may convey the impression that the achieved risk reduction effect will be beneficial for policyholders, since typically lower premiums are paid for the same safety level with an increasing number of insureds, or a higher safety...

The report has been prepared on the basis of seven independent provided research projects, realised by experts from all countries of CEE. The seven research projects are: 1) Development of risk analyses on energy and environmental conservation; 2) Strategic forecast on energy and environment...

We consider a model of financial intermediation with a monopolistic competition market structure. A non-monotonic relationship between risk measured as a probability of default and the degree of competition is established.

A standard risk-sharing matching game predicts negative assortative matching over agents’ risk attitudes. In regards to risk sharing, less risk-averse agents prefer highly risk-averse partners, who pay a high risk premium. Negative sorting is, however, inconsistent with empirical and...