Dramatic events in the recent past have drawn attention to catastrophe risk management problems. The devastating terrorist attacks of September 11th, 2001 incurred the highest insured losses to date. Furthermore, a trend of increasing losses from natural catastrophes appears to be observable...

Dramatic events in the recent past have drawn attention to catastrophe risk management problems. The devastating terrorist attacks of September 11th, 2001 incurred the highest insured losses to date. Furthermore, a trend of increasing losses from natural catastrophes appears to be observable...

Economic risks for farmers have increased during recent years due to various factors such as more extreme climate conditions and the volatility of agricultural markets. We analysed the preferences of Finnish farmers and non-farming citizens concerning catastrophic risk management policies in...

Extreme weather events pose an economic threat to farms. The risk management behaviour against such events is often studied using prospect theory as a framework, but empirically deriving corresponding parameters in the field involving farmers is challenging. To address this issue, we compare...

The Greek parliamentary elections in January .2015 led to a foreseeable change in government. The coalition government between the conservative Nea Dimokratia and of the socialist PASOK, become replaced. by a coalition government between the left wing coalition party SYRIZA and the extreme...

In this paper we consider various privatisation mechanisms in a general equilibrium model. We show that privatisation has no real effects, if the public sector is efficient and lump-sum taxes are implemented. The free distribution of public assets is financially neutral, whereas the sale of...

It is well recognised that the issue of the social rate of discount applies only to the gains from public investment that accrues to the public sector. When it comes to measurement, however, there is a problem: Public investment in infrastructure and the like does not usually yield direct...

In this paper we consider various privatisation mechanisms in a general equilibrium model. We show that privatisation has no real effects, if the public sector is efficient and lump-sum taxes are implemented. The free distribution of public assets is financially neutral, whereas the sale of...

This paper develops the “Losers Distribution,” a new discrete probability distribution that describes the number of losers in a k-player game with n-fold identical trials. The problem of financial exclusion demonstrates one application. Luck is used to unleash, pool and circulate the...