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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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Pareto-optimal risk sharing with fixed costs per claim
TL;DR: In this article, the authors show that the best way to deal with nuisance claims in insurance policies is not to propose a straight deductible or a franchise; rather, it calls for a contract with a partially disappearing deductible.
Book ChapterDOI
A Realist Perspective on Bayesian Cognitive Science
TL;DR: The authors argue that realism about Bayesian cognitive science offers significant explanatory advantages over a rival instrumentalist view, on which Bayesian models are predictive tools that we should not construe even semi-literally.
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Japanese Firms' Investment Strategies in Emerging Economies
Andrew Delios,Witold J. Henisz +1 more
TL;DR: In this article, the effects of organizational capabilities and public and private expropriation hazards on the level of equity ownership chosen for foreign subsidiaries in emerging markets were jointly examined, and the mechanisms by which 660 Japanese multinational corporations draw upon industry specific, country-specific and total international experience to mitigate these hazards in FDI for their 1,727 subsidiaries in 18 emerging markets.
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The Cult of the Equity for Pension Funds: Should it Get the Boot?
TL;DR: In this article, the authors summarise the history of the cult of the equity in the UK and the arguments advanced at the time to support its adoption, and present the case for the cult (excluding taxation, risk sharing and default insurance).
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Technological risk and small probabilities
TL;DR: The probability threshold position as discussed by the authors states that society should ignore very small risks, i.e., those causing an average annual probability of fatality of less than 10−6, unless the risk is sufficiently large.