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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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Risk management in rural development : a review
TL;DR: In this article, the authors assess the relevance of risk analysis findings to rural development in impoverished countries around the world, focusing mainly on how risk in rural areas is handled by the various agents with which the Bank deals, such as farmers and governments.
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Unique Solutions of Some Recursive Equations in Economic Dynamics
TL;DR: In this paper, the authors study unique and globally attracting solutions of a general nonlinear equation that has as special cases some recursive equations widely used in economics and show that these solutions are globally attracting.
Book ChapterDOI
17 – equilibrium in competitive insurance markets: an essay on the economics of imperfect information*
TL;DR: In this paper, the authors present an analysis of competitive markets in which the characteristics of the commodities exchanged are not fully known to at least one of the parties to the transaction, and discuss equilibrium in competitive insurance market.
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Economic Theory of Risk Exchanges: A Review
TL;DR: In this article, the authors focus on the link between models with a complete set of markets for contingent claims and the theory of optimal insurance, and conclude that insurance markets seem to be inefficient in that they do not satisfy the mutuality principle, a property of efficient contingent allocations.
Journal ArticleDOI
Principal-Agent Model of Risk Allocation in Construction Contracts and Its Critique
TL;DR: In this paper, the authors argue that the principal-agent theory may lead to a biased decision and draw on its modeling technique to analyze a standard pain-gain sharing arrangement in construction contracts, finding that taking no account of contract breakup hazards will result in underuse of incentives.