This paper considers the formation of risk-sharing networks. Following empirical findings, we build a model where risk … risk-sharing outcomes. These results may help explain empirical findings that risk-sharing is often not symmetric or …

choice sets. From individuals' choices in the games, we draw inferences regarding impediments to efficient risk sharing in …

broad concept of the costs of risk management strategies is introduced and encompasses both a time and monetary dimension … complex networks of informal credit providers to insure their access to credit once a shock occurs. Informal credit involves …

modeled. At the same time, the risk management analysis largely ignore a significant “human nature” based (bounded rationality …, opportunism) risk, critical factors for the managerial choice such as the institutional environment and the transaction costs, and … diversity of alternative (market, private, collective, public, hybrid) modes of risk management. This paper incorporates the …

, especially the latter, have become increasingly dysfunctional. The Philippines is peculiarly challenged to build economic … resilience as indicated by its high-risk exposure and vulnerability. The objective of this paper is to point to policymakers the …. Policymakers should be aware and conversant about risk analysis, risk management, and what policies can best respond to exogenous …