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Penalty Default Licenses : A Case for Uncertainty

García, Kristelia - 2014

license that improves market efficiency while mitigating inequality has implications beyond the statutory licensing context …

Persistent link: https://www.econbiz.de/10014154519

Intra-Day Market Activity.

Gourieroux, C.; Jasiak, J.; Le Fol, G. - 1996

We analyse high-frequency data by means of the duration between successive ticks and volume of capital durations. It allows to introduce trading activity and coactivity measures, which may or may not also be volume weighted. Some applications on particular stocks of the PAris Bourse are provided.

Persistent link: https://www.econbiz.de/10005671569

A Model of Comparative Statics for Changes in Stochastic Returns with Dependent Risky Assets.

Dionne, G.; Gollier, C. - Paris X - Nanterre, U.F.R. de Sc. Ec. Gest. Maths Infor. - 1996

In this paper we show how the order of Linear Stochastic Dominance proposed by Gollier (1995) can be applied to situations with dependent risky assets.

Persistent link: https://www.econbiz.de/10005618862

Asset Pricing Lessons for Modeling Business Cycles.

Boldrin, M.; Christiano, L.J.; Fischer, J.D.M. - Banca d'Italia - 1996

We develop a model which accounts for the observed equity premium and average risk free rate, without implying … counterfactually high risk aversion. The model also does well in accounting for business cycle phenomena. …

Persistent link: https://www.econbiz.de/10005640901

Long Memory in Continuous Time Stochastic Volatility Models.

Comte, F.; Renault, E. - Groupe de Recherche en Économie Mathématique et … - 1996

This paper studies a classical extension of the Black and Scholes model of option pricing, often known as the Hull and White model. Our specificity is that the volatility process is assumed not only to be stochastic, but also to have long memory features and properties. We study here the...

Persistent link: https://www.econbiz.de/10005780419

On welfare frameworks and catastrophic climate risks

Millner, Antony - 2013

Recent theoretical work in the economics of climate change has suggested that climate policy is highly sensitive to "fat-tailed" risks of catastrophic outcomes (Weitzman, 2009b). Such risks are suggested to be an inevitable consequence of scientific uncertainty about the effects of increased...

Persistent link: https://www.econbiz.de/10010199723

On Welfare Frameworks and Catastrophic Climate Risks

Millner, Antony - 2011

Recent theoretical work in the economics of climate change has suggested that climate policy is highly sensitive to 'fat-tailed' risks of catastrophic outcomes (Weitzman, 2009). Such risks are suggested to be an inevitable consequence of scientific uncertainty about the effects of increased...

Persistent link: https://www.econbiz.de/10013127841

On Welfare Frameworks and Catastrophic Climate Risks

Millner, Antony - 2021

Recent theoretical work in the economics of climate change has suggested that climate policy is highly sensitive to ‘fat-tailed’ risks of catastrophic outcomes (Weitzman, 2009b). Such risks are suggested to be an inevitable consequence of scientific uncertainty about the effects of increased...

Persistent link: https://www.econbiz.de/10013315705

Human Survival, Risk, and Law : Considering Risk Filters to Replace Cost-Benefit Analysis

Draper, John William - 2017

for safety and feasibility to regulate against significant risk. For significant risks, especially those that are … operations, and their interoperability. Further, it defends feasible risk reduction as an effective decision and regulatory tool …

Persistent link: https://www.econbiz.de/10012969820

Fair Innings : The Utilitarian and Prioritarian Value of Risk Reduction over a Whole Lifetime

Adler, Matthew D.; Ferranna, Maddalena; Hammitt, James K.; … - 2019

The social value of risk reduction (SVRR) is the marginal social value of reducing an individual’s fatality risk, as … domain of fatality risk regulation. This Article investigates SVRR, using a lifetime utility model in which individuals are … differentiated by age, lifetime income profile, and lifetime risk profile. We consider both the utilitarian SWF and a “prioritarian …

Persistent link: https://www.econbiz.de/10014103027