In most wholesale electricity markets generators must submit step-function offers of supply to a uniform price auction, and the market is cleared at the price of the most expensive offer needed to meet realised demand. Such markets can most elegantly be modelled as the pure-strategy, Nash...

We investigate risk averse agents who manage risk by trading financial securities in a market that we call a risk market. We assume this market is perfectly competitive and complete. When risk aversion is expressed using risk measures, the (bundle of) prices for financial securities turns out to...

Responding to an information technology (IT) system failure often requires a collaborative approach in which both the client and the vendor need to invest in response capacity. By investing more in response capacity, the client might make the vendor's response capacity more effective in the...

The one bad apple spoiling the whole barrel has become a common metaphor used with reference to risk culture in organisations. This "inside-out" perspective begins with the individual as the unit of analysis and follows with inferences to the broader environment. Since the Global Financial...