Showing 31 - 40 of 194
Persistent link: https://www.econbiz.de/10010800964
Windstorms generate windfalls that may lead to price decreases. Studies have often focused on stochastic growth and price, but considered that the link between these two risks was generally nil. In our model, we assume that storms generate windfalls and that these windfalls have an impact on...
Persistent link: https://www.econbiz.de/10010902151
In the forest sector, natural disturbances have impact on production and prices. Traditionally, these risks have been analysed separately. In our model, the production risk translates into a price risk through a quality loss. We consider that the stock of timber follows a Markov Decision Process...
Persistent link: https://www.econbiz.de/10010780202
Persistent link: https://www.econbiz.de/10010780289
In the forest sector, natural disturbances have impact on production and prices. Traditionally, these risks have been analysed separately. In our model, the production risk translates into a price risk through aquality loss. We consider that the stock of timber follows a Markov Decision Process...
Persistent link: https://www.econbiz.de/10010780320
Persistent link: https://www.econbiz.de/10010780371
In this paper, we propose to analyse the choice of risk management activity made by a non-industrial private forest owner who derives utility from consumption and from the sentimental value of the forest that bears a risk of disaster. We consider a bivariate utility function depending on...
Persistent link: https://www.econbiz.de/10010782030
This article deals with the impact of governmental assistance on insurance demand under ambiguity, i.e., in situations where probabilities are uncertain. First, using a model of insurance demand under ambiguity, we derive theoretical predictions about the impact of several governmental...
Persistent link: https://www.econbiz.de/10010865828
We analyze risk management behavior (financial savings versus physical savings) of a private forest owner who values amenities in relation to uncertainty about timber growth. In a two-period model, we study the properties of optimal current and future harvesting and risk management decisions. We...
Persistent link: https://www.econbiz.de/10010911087
[eng] This article examines the effect of public compensation programs on the insurance behavior of private forest owners. We analyze the impact of three types of public programs currently used in some European countries : flat-rate aid, contingent flat-rate aid , and insurance subsidy. We also...
Persistent link: https://www.econbiz.de/10010977828