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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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Who benefits from free healthcare? Evidence from a randomized experiment in Ghana
TL;DR: Free care increased use of formal healthcare shifting care seeking away from informal providers, with particularly strong effects for children who were anaemic at baseline, and ex-ante moral hazard is unlikely to be a concern in this particular setting.
Posted ContentDOI
A review of agricultural production risk in the developing world
TL;DR: An overview of the empirical literature that investigates farmers' risk attitudes and responses to production risk in developing countries is provided in this paper, where some attention is given to the implications of production risk for the uptake and use of new technologies.
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An Axiomatic Approach to Choice Under Uncertainty with Catastrophic Risks
TL;DR: In this article, the Von Neumann Morgenstern axioms for decision making under uncertainty are shown to be insensitive to low-probability events, which are typically low probability events with major irreversible consequences.
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Stochastic Optimization in a Cumulative Prospect Theory Framework
TL;DR: This paper proposes both gradient based as well as gradient-free CPT-value optimization algorithms that are based on two well-known simulation optimization ideas: simultaneous perturbation stochastic approximation and model-based parameter search, respectively.
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On the provision of excludable public goods
TL;DR: In this article, the authors characterise voluntary consumers at an arbitrary all-or-nothing price, and the optimal price a revenue-constrained welfare-maximiser facing voluntary consumers chooses.