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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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Tariffs as Insurance: Optimal Commercial Policy When Domestic Markets Are Incomplete
Jonathan Eaton,Gene M. Grossman +1 more
TL;DR: In this paper, a combination of analytical and simulation techniques is used to demonstrate that the optimal policy for this purpose will often have an anti-trade bias, and that the usual preference by economists for factor or product taxes and subsidies over tariffs and export subsidies may not be justified in this context.
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Risk attitudes amongst australian farmers
Gary E. Bond,Bernard Wonder +1 more
TL;DR: In this article, a survey of 201 farmers throughout Australia was conducted, where they were asked to provide points of indifference between sure amounts of income and risky prospects, and it was suggested that risk aversion is the most prevalent risk attitude in the agricultural sector.
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Optimal Reinsurance Arrangements Under Tail Risk Measures
Carole Bernard,Weidong Tian +1 more
TL;DR: In this article, the optimal risk management strategy of an insurance company subject to regulatory constraints is investigated, and the authors compare the obtained optimal designs to existing reinsurance contracts and alternative risk transfer mechanisms on the capital market.
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Consumer Food Safety Risk Perceptions and Attitudes: Impacts on Beef Consumption across Countries
TL;DR: In this article, the authors examined whether consumers altered their beef consumption behavior because of their risk aversion and risk perceptions stemming from information about beef food safety in recent years and revealed that these differences are revealed through different beef consumption behaviour.
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Implications of the Auction Mechanism in Baseball's Free Agent Draft*
James Cassing,Richard W. Douglas +1 more
TL;DR: In this paper, the authors focus upon an industry in which the bidding environment for inputs is well articulated and has recently undergone a dramatic change: namely, Major League baseball, and examine the efficiency properties of various auction mechanisms and the distribution of the gains from trade generated in different trading environments.