Motivated by macroeconomic risks, such as the COVID-19 pandemic, we consider different risk management platforms and … risk-sharing, insurance and market platform. First, we show that under a non-discriminatory insurance assumption, it is … collects the premia ex-post after the losses are realised. As a result, an efficient solution is generated in the risk …

We investigate the possibility of enhancing efficiency by awarding premiums to a set of highest bidders in an English … be risk averse, (ii) the bidders can have heterogeneous risk preferences, and (iii) the auction can have a binding … reserve price. Our analysis reveals that the premium has an intricate joint effect on risk sharing and expected revenue, which …

efficiency remaining as the primary determinant of value for money. Evidence suggests, however, that the risk transfer to a … of financing and their efficiency in delivery and operation. This paper focuses on the cost of financing, in particular … the cost associated with transferring risk from the public to private sphere. If capital markets were efficient and …

In this essay, senior economist Kartik Athreya identifies systemic risk with the presence of linkages between market …