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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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The Optimal Use of Nonmonetary Sanctions as a Deterrent
TL;DR: In this paper, a theoretical model of deterrence is studied in which the imposition of nonmonetary (as opposed to monetary) sanctions is socially costly and it is therefore desirable that the system of sanctions be designed so that sanctions are imposed infrequently.
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On Testing the Structure of Risk Preferences in Agricultural Supply Analysis
TL;DR: In this article, an econometric test for distinguishing the class of preferences is proposed and implemented for potato supply response in Idaho and the data reject constant absolute and partial relative risk aversion.
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Portfolio choice and equilibrium in capital markets with safety-first investors
Enrique R. Arzac,Vijay S. Bawa +1 more
TL;DR: In this paper, the authors developed an explicit valuation formula for the equilibrium value of assets and derived an optimal portfolio choice and market equilibrium when investors behave according to a generalized lexicographic safety-first rule.
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Optimal insurance policy indemnity schedules
TL;DR: In this article, the authors focus on two commonly observed insurance policy provisions: upper limits on coverage and deductibles, and they show that absent moral hazard, if the administrative cost structure has fixed costs and scale economies, deductibles are not optimal.
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Are Small Innovators Credit Rationed
TL;DR: In this article, a sample of 256 small firms who applied for bank loans was used to investigate the extent to which "innovativeness" is associated with a lower level of loan application success.