Agri-environmental programs in Japan have generally been promoted through the provision of fixedpayments for certain environment-friendly farming and management practices. However, the auctioning of agrienvironmentalcontracts is a noteworthy alternative for the furtherance of such programs....

This paper investigates the role of currency denomination in the the intertemporal risk-return relation among G7 countries. Similar to the findings of previous studies, our estimation also shows that the financial markets of the G7 countries are integrated. We obtain significant pricing...

This paper examines the effects of risk aversion on compliance choices in markets for pollution control. A firm’s decision to be compliant or not is independent of its manager’s risk preference. However, noncompliant firms with risk averse managers will have lower violations than otherwise...

We study the impact of time-varying macroeconomic conditions on optimal dynamic capital structure and the aggregate dynamics of firms in a cross-section. Our structural-equilibrium framework embeds a contingent-claim corporate financing model within a standard consumption-based asset- pricing...

European farmers face increasing income uncertainty and the debate is growing on the role of insurance schemes and of public support in this field. This debate is further stimulated by the perspective of introducing instruments to cope with risk also in the Common Agricultural Policy. Therefore,...

The objective of this study is to investigate how professional traders in futures and optionsmarkets behave under risk and uncertainty. Our preliminary findings suggest that most tradersexhibit concave utility functions for gains and convex utility functions for losses, while theirweighting...

Farmers face increasing income uncertainty and the debate is growing on the role of insuranceschemes and of public support in this field.This paper applies a PMP modelling approach that takes into explicit consideration riskaversion behaviour to test its applicability to evaluating the potential...

This paper reports the results of behavioral economic experiments conducted in Peru toexamine the relationship amongst risk preferences, loan take-up, and insurance purchase decisions. This area-based yield insurance can help reduce people's vulnerability to large scalecovariate shocks, and can...

Artículo de revista ; In recent years, information on the usage of cards as a means of payment has been increasingly used as an indicator of private consumption. The advantages of such information include its daily frequency and the short time lag from the moment of spending until it becomes...