Complex risks differ from simple risks in that agents facing them only possess imperfect information about the underlying objective probabilities. This paper studies how complex risks are priced by and shared among heterogeneous investors in a Walrasian market. I apply decision theory under...

Which countries currently have the productive capabilities to thrive in the green economy? How might countries reorient their existing industrial structures to be more competitive in an environmentally friendly world? To investigate these questions, this paper develops a novel methodology for...

Leading Change in a Complex World : Transdisciplinary Perspectives is a transdisciplinary book offering tools for leaders, analysts and students of leadership to navigate in complex and interconnected settings. It proposes an analytical framework based on complexity, relational leadership, and...

We derive a measure of the relatedness between economic activities based on weighted correlations of local employment shares, and use this measure to estimate city and activity complexity. Our approach extends discrete measures used in previous studies by recognising the extent of activities'...

This article suggests that important trends in education can be understood if we view and study universities as complex systems that provide educational services. Methodologically, we draw on the service science theoretical framework, which we adapt to education, and then supplement our analysis...

We analyze the maintenance strategy for a complex system consisting of two types of components: non-monitored and monitored. Non-monitored components can only be maintained correctively upon failure. Monitored components are monitored continuously and are maintained when they become too...

A long-standing question in the organizations literature is whether firms are better-off by using simple or complex representations of their task environment. We address this question by developing a formal model of how firm performance depends on the process by which firms learn and use...

Extremely rich data on farm households in Burkina Faso are used to test whether resource are allocated Pareto efficiently. The complexity of household structures, including multi-generation and polygynous households, is taken into account to developing tests from theoretical models of behavior....