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We consider two players facing identical discrete-time bandit problems with a safe and a risky arm. In any period, the risky arm yields either a success or a failure, and the first success reveals the risky arm to dominate the safe one. When payoffs are public information, the ensuing free-rider...
Persistent link: https://www.econbiz.de/10010333870
We consider two players facing identical discrete-time bandit problems with a safe and a risky arm. In any period, the risky arm yields either a success or a failure, and the first success reveals the risky arm to dominate the safe one. When payoffs are public information, the ensuing free-rider...
Persistent link: https://www.econbiz.de/10010575347
We consider two players facing identical discrete-time bandit problems with a safe and a risky arm. In any period, the risky arm yields either a success or a failure, and the first success reveals the risky arm to dominate the safe one. When payoffs are public information, the ensuing free-rider...
Persistent link: https://www.econbiz.de/10009658114
Persistent link: https://www.econbiz.de/10011549152
Die Messung und Bewertung von Katastrophenrisiken stellt sich als sehr bedeutsames Gebiet dar, da sie einen großen Teil des gesamten Risikokapitals der Unternehmen binden. Aus diesem Grund soll der vorliegende Aufsatz zwei konkrete Ansätze zur Modellierung von Katastrophenschäden am Beispiel...
Persistent link: https://www.econbiz.de/10010311176
This paper considers the potential for securitizing index-based insurance products that transfer weather and natural disaster risks from lower income countries. The paper begins with a brief overview of why markets for natural disaster risks are important in lower income countries and a review...
Persistent link: https://www.econbiz.de/10005513495
This paper shows that pricing catastrophe bonds boils down to computing first-passage time distributions of jump-diffusion processes. It derives a generic valuation expression by assuming that the jump risk is not systematic and then performs simulations, which can stress the sensitivity of...
Persistent link: https://www.econbiz.de/10005181920
High losses generated by natural catastrophes reduce the availability of insurance. Among the ways to manage risk, the subscriptions of participating and non-participating contracts respectively permit to implement the two major principles in risk allocation: the mutuality and the transfer...
Persistent link: https://www.econbiz.de/10005320355
This article considers the potential for securitizing index-based insurance products that transfer weather and natural disaster risks from lower income countries. It begins with a brief overview explaining why markets for natural disaster risks are important, yet often missing, in lower income...
Persistent link: https://www.econbiz.de/10004979839
High losses generated by natural catastrophes reduce the availability of insurance. Among the ways to manage risk, the subscriptions of participating and non-participating contracts respectively permit to implement the two major principles in risk allocation: the mutuality and the transfer...
Persistent link: https://www.econbiz.de/10009445042