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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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Optimal insurance under rank-dependent utility and incentive compatibility
TL;DR: In this paper, an optimal insurance design problem where an individual's preference is of the rank-dependent utility (RDU) type was studied, and it was shown that in general an optimal contract covers both large and small losses.
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Comoment Risk and Stock Returns
Marie Lambert,Georges Hübner +1 more
TL;DR: In this paper, higher-order comoment equity risk premiums for the US stock markets were used to infer the returns attached to a unit exposure to coskewness and cokurtosis risks in the US equity markets.
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Models of Political Economy
TL;DR: In this article, the authors present a game called "Homo Oeconomicus: Should We Let Him Go?" which is based on the game "Game of Games: Descriptions and Solutions".
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On the theory of market information efficiency
TL;DR: The authors discusses the concept of market information efficiency and demonstrates the following: as the number of traders who participate in the market becomes large, variations in the price of a security caused by the variations in traders' beliefs make the market price vary as if traders all knew the true distribution of returns on the security.