difficulties identified with IAMs, the choice of the risk aversion parameter and the underestimation of damages, are also directly …

such as inelastic pricing, why the firm takes on more risk as gains become less likely, and asymmetric responses to demand …

such as inelastic pricing, why the firm takes on more risk as gains become less likely, and asymmetric responses to demand …

, Evolution and Economic Theory; and furthered by Geoffrey Manne and Todd Zywicki in their recent paper titled Uncertainty …, Evolution, and Behavioral Economic Theory. Alchian’s thesis relied on an evolutionary understanding of firms’ activities in the … present work concludes that Alchian’s evolutionary theory does not account for the interpretation that economic actors render …

business risk. Business risk is measured as variability in revenue, customer base, informal payments, and temporary firm … closure. The results show lower levels of business risk among certified firms, especially for firms in the middle deciles of … the risk distribution. Certification also correlates negatively with risk-reduction for technologically advanced firms, as …