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I revisit the question of which motive underlies insurance demand. I draw on the literature of state-dependent utility …
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We study a commons problem under uncertainty, where individual actions affect the risk of a future damage event. We show that for risk-averse agents, an extra risk on the amount of the damage induces more precautionary actions in Nash equilibrium. Similarly, for prudent agents an extra risk in...
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We investigate the presence and stability of dynamically inconsistent time preferences across contexts with and without …
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residual demand. Taking into account that the antitrust policy instruments (effort, fine, and leniency program) are not …
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