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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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International Asset Allocation under Regime Switching, Skew and Kurtosis Preferences ∗
TL;DR: In this article, the authors propose a new tractable approach to solving asset allocation problems in situations with a large number of risky assets which pose problems for standard approaches, where investor preferences are defined over moments of the wealth distribution such as its mean, variance, skew and kurtosis.
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Economic Foundations of Strategy
TL;DR: This book presents the theoretical building blocks of Organizational Economics as well as practical examples of how these building blocks can be applied to the management of organizational capabilities.
Book ChapterDOI
Chapter 3 Transaction cost economics
TL;DR: In this article, transaction cost economics adopts a contractual approach to the study of economic organization and introduces the economic importance of asset specificity, relies more on comparative institutional analysis, regards the business firm as a governance structure rather than a production function, places greater weight on the ex post institutions of contract, with special emphasis on private ordering, and works out of a combined law, economics and organization perspective.
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Optimal Insurance and Generalized Deductibles
TL;DR: In this paper, the authors make a contribution to the theory of demand for insurance, showing that, given a range of alternative possible insurance policies, the insured would prefer a policy offering complete coverage beyond a deductible.
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Empirical Tests for Stochastic Dominance Efficiency
TL;DR: In this article, empirical tests for the stochastic dominance efficiency of a given portfolio with respect to all possible portfolios constructed from a set of assets are derived using straightforward linear programming, which can approximate the sampling properties of the test results and allow for statistical inference.