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Essays in the theory of risk-bearing
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The article was published on 1958-01-01 and is currently open access. It has received 3688 citations till now. The article focuses on the topics: Bearing (mechanical).read more
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Budget Theory in the Public Sector
Aman Khan,W. Bartley Hildreth +1 more
TL;DR: The separation of powers principle and budget decision-making is discussed in this article, where the authors propose a multiple rationality model of budgeting, based on the principal-agent model and budget theory.
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Stochastic Dominance and Risk Measure: A Decision-Theoretic Foundation for VaR and C-VaR
Chenghu Ma,Wing-Keung Wong +1 more
TL;DR: In this paper, the authors established some behavior foundations for various types of VaR models, including VaR and conditional-VaR, as measures of downside risk, and provided arguments for and against the standard deviation versus VaR, and conditional VaR as objective and quantifiable measures of risk in the context of portfolio choice.
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Cooperative research and development: who participates and in which industries do projects take place?
TL;DR: In this paper, the authors identify the characteristics of industry categories to which cooperative RD firms in RD tend to be formed in industries which have a strong vertical relationship with the participants and find that these government-sponsored cooperative R&D projects tend to occur in industries with a large minimum efficient scale.
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Homeowners Insurance With Bundled Catastrophe Coverage
TL;DR: In this article, the authors estimate the demand for homeowners insurance in Florida and New York with indicated loss costs as their proxy for the quantity of real insurance services demanded, decomposing the demand into demand for coverage of catastrophe perils and demand for non-catastrophe coverage and estimate these demand functions separately.
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Silver spoons and platinum plans: How childhood environment affects adult health care decisions
TL;DR: Overall, this work shows how, why, and when childhood socioeconomic status influences desire for health coverage in adulthood and shows that this effect reverses when people are provided with base-rate information about disease.