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084038 (E50) Global financial markets, derivative securities, and systemic risks : Scholes M.S., Journal of Risk and Uncertainty, 1996, Volume 12, nr. 2/3, pp. 271–286

Publisher: Elsevier Science
Year: 1997
Tongue: English
Weight: 89 KB
Volume: 19
Category: Article
ISSN: 0167-6687
DOI: 10.1016/s0167-6687(97)83533-0

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This article explains how lobbying pressure intensifies tax-transfer inefficiencies in disaster prevention and relief. The social-welfare tradeoff in the government's joint provision of safety regulation and disaster relief is distorted by disinformational lobbying activity by disaster-exposed house