We consider the effect of an increase in the risk from pollution. We show that in the case of a flow pollution, when … the number of players is sufficiently large, the result of Bramoulle and Treich, showing that a marginal increase of risk … in the neighborhood of a risk-free world is welfare-improving, holds even when we consider non-marginal increases in risk …

increases the risk of the game, making cooperative action through a social planner more urgent. Asymmetric damages or asymmetric …

against risk. We work within the framework originally established by Berg, Dickhaut and McCabe (1995) in which trust is …’s risk efficacy, or ratio of assets to risk. …

Interbank borrowing and lending may induce systemic risk into financial markets. A simple model of this is to assume …

We justify risk neutral equilibrium bidding in commonly known fair division games with incompleteinformation by an …

hydroelectricity producers are risk averse and face demand uncertainty. In each type of market structure we analytically determine the … electricity prices. In the oligopolistic case with symmetric risk aversion coefficient, we determine the conditions under which … (storage) in its competitor’s dams. When there is asymmetry of the risk aversion coefficient, the firm’s hydroelectricity …