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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 Hedging with Higher Moments
TL;DR: In this article, the authors propose a utility-based framework for the determination of optimal hedge ratios that can allow for the impact of higher moments on hedging decision and find that for both moderate and large spot (commodity) exposures, the performance of out-of-sample hedges constructed allowing for non-zero higher moments is better than the simple OLS hedge ratio.
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The Demand for Homeowners Insurance with Bundled Catastrophe Coverages
TL;DR: In this paper, the authors analyzed the demand for homeowners insurance in markets subject to catastrophe losses and where consumers have choices in configuring their coverage for catastrophe and non-catastrophe perils.
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Producer Surplus and Risk
Rulon D. Pope,Jean-Paul Chavas +1 more
TL;DR: In this article, the welfare economics of producer behavior under risk aversion is examined and bounds on compensating and equivalent variations using ordinary producer surplus in a manner analogous to the Willige approach in consumer theory under certainty are studied.
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Uncertain lifetime, risk aversion and life insurance
Edi Karni,Itzhak Zilcha +1 more
TL;DR: This article developed the requisite conditions for interpersonal comparisons of attitudes toward risk in the presence of uncertain lifetime and applied the measures of risk aversion to a comparative static analysis of the demand for term life insurance coverage.
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Integrated Risk Assessment for the Blue Economy
Emma E. Hodgson,Emma E. Hodgson,Timothy E. Essington,Jameal F. Samhouri,Edward H. Allison,Edward H. Allison,Nathan J. Bennett,Ann Bostrom,Alison C. Cullen,Stephen Kasperski,Phillip S. Levin,Melissa R. Poe,Melissa R. Poe +12 more
TL;DR: In this article, the authors discuss six key insights from the long history of risk research in the social sciences that can inform integrated assessments of risk: 1) consider the subjective nature of risk, 2) understand individual social and cultural influences on risk perceptions, 3) include diverse expertise, 4) consider social scales of analysis, 5) incorporate quantitative and qualitative approaches, and 6) understand interactions and feedbacks within systems.